Support The Moscow Times!

Oil Export Duties to be Cut

The crude oil export duty will be reduced from $416.4 to $395.9 per metric ton starting Nov. 1 based on monthly monitoring of global oil prices, the Economic Development Ministry said Friday.

According to data posted on the ministry's website, the duty on light and dark oil products, which is established at 66% of the crude oil duty since October 2011, is set at $261.2 per metric ton. In October it was $274.8.

The export duty on gasoline, based on a coefficient of 0.9, went down from $374.7 to $356.3 per metric ton, while the duty on liquefied gas exports increased from $121.3 to $154.3 per metric ton.

Monthly duty adjustment procedures were introduced by the government in 2008 to respond more swiftly to changes in world oil prices.

Read more

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

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.