Support The Moscow Times!

October Oil Duty Cut 7.4%

Russia may reduce its export duty on most crude shipments by 7.4 percent on Oct. 1, after oil prices fell.

The standard duty may decline to $411.40 a ton ($56.12 a barrel) from $444.10 in September, according to Bloomberg calculations using a tax rate of 60 percent, down from 65 percent. The discounted rate on some eastern Siberian and Caspian Sea oil may be reduced to $204.50 from $205.10 this month.

The product duty may be set at $271.50 a ton next month. That would cut the tax on middle distillates such as diesel by 8.7 percent, while raising the rate for heavy products like fuel oil by 31 percent. A special gasoline tax imposed starting May 1 to fight domestic shortages may fall to $370.20 a ton.

(Bloomberg)

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.