Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Oil Duty Could Fall 1.5%

Russia is likely to cut crude export taxes 1.5 percent next month and possibly more if Prime Minister Vladimir Putin adopts a tax regime designed to spur investment in fields.

Putin gave the government two weeks from July 8 to submit proposals on applying the "60-66" measure after some refiners complained. Rosneft, LUKoil and TNK-BP, Russia's three largest oil producers, are set to benefit, VTB Capital analyst Dmitry Lukashov said.

The standard duty will probably drop to $438.20 a ton ($59.80 a barrel) from $445.10 a ton in July, according to calculations based on Finance Ministry data.


… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

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 you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more