Russian oil export duty to increase 1.5 American dollars

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Russian oil export duty to increase 1.5 American dollars
May 15
13:00 2020

The Ministry of Finance of the Russian Federation has published the important information on its official website regarding oil export duty. It became known that from June 1, the oil export duty in the Russian Federation would be equal to 8.3 US dollars per ton.

We recall that in May, the fee amounted to 6.8 US dollars. Thus, in June, the duty will increase $ 1.5.

Urals oil is the main product of the Russian exports. The average cost for the period from April 15 to May 14 has totaled $ 19.9 per barrel or $ 145.3 per ton.

The duty on high viscosity oil will also increase from June; it will amount to $ 0.2 (from $ 1 to $ 1.2).

A preferential zero export rate will remain for some fields in Eastern Siberia and the Caspian Sea. The duty on light petroleum products and oils will increase from 2 to 2.4 US dollars per ton, on dark ones – from 6.8 to 8.3 US dollars per ton.

The export duty on gasoline will also increase: from $ 2 to $ 2.4 for commercial gasoline, from $ 3.7 to $ 4.5 for straight-run gasoline.

The duties on liquefied gas have not changed (remained zero), but from June 1, the duty on coke will increase $ 0.1 and amount to $ 0.5 per ton.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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