Russian Prime Minister Vladimir Putin signed a resolution on Friday raising export tariffs for simply refined oil products from October 1, RIA Novosti reports.
The resolution cuts crude oil export duty to 60 percent of the average weighted market price, from the current 65 percent.
The document also sets a flat export duty rate for dark and light oil products at 66 percent of crude oil export duty. Export duty on gasoline is kept at 90 percent of crude oil export duty as the government would like to use it to saturate the domestic market with the fuel.
In winter, Russia began preparing a new oil industry taxation scheme, hoping to increase the depth of oil refining and to attract investment in oilfields by reducing the duty on crude oil exports and increasing oil product exports.
The resolution cuts crude oil export duty to 60 percent of the average weighted market price, from the current 65 percent.
The document also sets a flat export duty rate for dark and light oil products at 66 percent of crude oil export duty. Export duty on gasoline is kept at 90 percent of crude oil export duty as the government would like to use it to saturate the domestic market with the fuel.
In winter, Russia began preparing a new oil industry taxation scheme, hoping to increase the depth of oil refining and to attract investment in oilfields by reducing the duty on crude oil exports and increasing oil product exports.