Russia to keep 5 % tariff on petroleum product exports through year-end

Jun 25, 1999 02:00 AM

Andrei Kushnirenko, the head of the Russian Trade Ministry's department for tariff policy, announced on June 24 that the Kremlin had decided to maintain a 5 % tariff on exports of refined petroleum products for another six months.
Kushnirenko said that the tariff might be adjusted upward or downward later in the year but would remain in place at least through the end of 1999, along with duties on other strategic commodities such as copper, nickel and soybeans.
The 5 % tariff on oil products was set on January 16 as part of the government's campaign to increase revenues.

Source: NewsBase
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