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Gov’t might raise oil export taxes
Oil export taxes might be increased to about $33.8 to $33.9 per ton as of February 1, 2004, a source in the Russian government commission for anti-dumping measures told RBC. Such taxes might be based on the results of monitoring of oil prices in the period from November to December 2003, the source specified. The current oil export tax is $31.2 per ton. Moreover, it has been proposed to retain export taxes on oil products at the level of 90 percent of the oil export tax regardless of the kind of oil products, the source specified. Corresponding decisions will be adopted by the government commission in the near future, the source noted. As reported earlier, the Russian government decided to decrease export taxes on oil and oil products as of December 1, 2003. According to the corresponding document signed by Prime Minister Mikhail Kasyanov, oil export taxes were cut from $33.8 to $31.2 per ton and export taxes on oil products were reduced from $30.4 to $28.1 per ton.
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