Russian crude oil export duty could soar

Jun 25, 2004 02:00 AM

The export duty in Russia on crude oil could soar from $ 41.6 at present to more than $ 70 a ton from August 1, a Finance Ministry official said.

The duty effective from August 1 will be based on the average price of Russian crude on the world markets in May and June, Alexander Sakovich, the ministry's deputy head of customs payments, told.
Moreover the higher the price of oil the higher the duty, according to a new scale, Sakovich said.

Source: Interfax
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