Russia to increase oil export tax
2- 20.03.2008, 16:39
Russia will increase oil export tax up to USD 340.1 per ton from 1 April. This decision was approved by the Government of the Russian Federation.
New tax will achieve record size. Now it amounts to USD 333.8 per ton, a BelTA correspondent learnt from the Cabinet of Ministers’ press service.
From 1 April Export tax for light oils will be set up at USD 241.4 per ton, and for dark oil products – USD 130.1 per ton. The current taxes are USD 237.2 and USD 127.8 respectively.
In accordance with Belarus-Russia contracts, this year tax for delivering oil to Belarus from Russia is calculated using a coefficient 0.335. Thus, it will amount to USD 113.9 for Belarus from 1 April. Tax of USD 111.8 per ton is charged for oil supplies in February-March.
Oil and oil products export taxes are reviewed every second month in the Russian Government according to a special formula based on monitoring price for Russian Urals oil on the world markets. The latest increase in export tax is caused by continuing growth of world oil prices.
