Russia raises export duty on oil, petroleum products

Russia has raised the rate of export duty on crude oil from $284 to $292.1 per ton, BelaPAN reports.

The per-ton duty rate has been increased from $203.7 to $209.1 on light petroleum products and from $109.7 to $112.7 on dark petroleum products.

An interstate agreement signed in 2007 requires Belarus to apply the same export duty rates to oil and petroleum products as Russia.

Russia says that it updates the rates depending on the world market situation.

Under an agreement enacted in February, Belarus is to receive this year 6.3 million tons of Russian oil duty-free for domestic consumption, but the rest of the amount to be supplied to Belarus is to be subject to the full export duty rate unless the resulting petroleum products are brought back into Russia.