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2008 December 10   07:55

Russia's new oil export duty takes effect

The government's decree from November 26 setting new export duties on oil and some petroleum products bound for countries outside the Customs Union has taken effect today, RBC reports. The export duty on oil has thus been set at $192.1 per tonne, while the duty on light oil products is $141.8 per tonne, and that on heavy oil products $76.4 per tonne. The decree, which takes effect 10 days after its official publication, applies to legal relations starting from December 1, 2008.

Earlier, between November 1 and December 1, 2008, Russia's oil export duty stood at $287.3 per tonne, with those on light and heavy oil products at $205.9 and $110.9 per tonne, respectively.

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