Russian export duty on oil may increase by 2.4% on June 1st
Edited by Rhod Mackenzie / 2014-05-15 11:47:09
From June 1st, the export duty on Russian crude oil may increase by $8.9 per 1 tons (by 2.4%) from $376.1 per 1 ton in May of 2013 to $385 per ton, the preliminary formula calculations, established by law on customs tariff regulations, show.
According to the monitoring of the Russian Ministry of Finance, from April 15th until May 14th, 2014, the average price of the oil of the Urals grade made up $107.61605/barrel ($785.6 per ton). Thus, the marginal rate of the export duty on crude oil may be $385/ton.
From June 1st, 2014, the reduced rate of the export duty on oil from deposits of Eastern Siberia, two deposits in the Caspian region and the Prirazlom deposit may be $189.2 against the current $182.4/ton in the previous month.
