Source Pravda.Ru

Government to consider possible rise in export duties

The Russian Cabinet will consider whether it is expedient to raise exportduties on black oil at a meeting before August 15, Grigory Sergiyenko, theexecutive director of the Moscow Fuel Association and of the Russian FuelUnion, reported to journalists today. He recalled that export duties on oilwere raised by $1.5 per ton for decreasing the volume of oil exports andhampering a rise in prices on the domestic market of oil and oil products.This measure became effective on August 1. However, Russian oil companieshave reacted promptly to these changes in the customs policies and changedthe structure of oil exports, so the government had to consider an increasein export duties on black oil as well. The official did not specify howsignificant this rise would be..