Russia will raise its export duty on most crude shipments by 1.9 percent on June 1 to the highest level since 2008 and extend a special tax on gasoline.
The standard tax rate will rise to $462.10 a ton ($63.04 a barrel) from $453.70 a ton in May, according to an order signed by Prime Minister Vladimir Putin on the government web site. Oil taxes reached a high of $495.90 a ton in August and September 2008.
Rosneft's Vankor field, Surgutneftegas's Talakan and TNK-BP's Verkhnechonsk, which ship oil to Asia via the East Siberia-Pacific Ocean pipeline, must pay the standard rate, according to the order. The discounted rate for some Caspian Sea deposits and oil will rise to $217.50 a ton from $211.70 last month.
(Bloomberg)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
