Russia will more than double its duty on crude oil exports, boosting revenue from higher world prices as it scraps an export tax on steel to help domestic producers that have been hurt by US sanctions, a government commission has said. The country's oil exporters will have to pay $20.40 per ton ($2.80 per barrel) of crude as of June 1st, a surge from $9.20 a ton, said Gennady Yezhov, spokesman to Deputy Prime Minister Alexei Kudrin, who chairs the commission. The government will have to set a date to scrap the five percent duty on steel, he said. “The final decision will be taken by a government meeting,” he said. “The commission makes recommendations to the government.” Russia sets oil export duties based on an average price for the nation's Urals blend of oil during each two month period. Urals' price for delivery to northwestern Europe has risen by twenty three percent since the beginning of March, averaging $23.21 a barrel.
In response to the unlawful December 1 arrest and detention of Chinese tech giant Huawei's chief financial officer Sabrina Meng Wanzhou by Canadian authorities in Vancouver at the behest of the Trump regime, facing possible unacceptable extradition to the US, Beijing warned its high-tech personnel last month against traveling to America unless it's essential.
Rescuers found the pilot of one of the two Su-34 fighters that had collided in midair in the Far East on January 18