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  Thursday, March 4, 2021
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Russia may raise oil export duties to $332-333 per metric
Russia may raise oil export duties to $332-333 per metric ton from February 1, in line with world market trends, a senior Finance Ministry official said on Tuesday.

The Russian government adjusts export duty on crude and petroleum products every two months, depending on changes in the Urals blend price on world markets.

"The average oil price monitored in November through December 26 was $88.99 per barrel. Therefore, oil export duty could be set at $332-333 per metric ton," said Alexander Sakovich, deputy head of the ministry's customs department. Crude export duty was set at $275.4 per ton from December 1.

The official said export duties on light petroleum products will be around $236 per ton, against the current $197.8 per ton. Duty on heavy petroleum products will rise to $127 per ton from the current $106.6 per ton.


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