Russia and Belarus hike oil export duties

Starting today, Russia's oil export duty will amount to $200.6 per tonne, in line with a bill signed earlier by Prime Minister Mikhail Fradkov, RBC reports. Before that the export duty amounted to $156.4 per tonne.The duty on light oil products will step up to $147.5 per tonne today, and that on dark oil products to $79.4 per tonne, up from $117.7 and $63.4 per tonne respectively.

Belarus has also decided to raise its oil export duties to Russia's levels from June 1, 2007.