This duty is revised every two months. It is calculated using a special formula based on the average price of Russian oil on the world market in the preceding two months. The current duty for export oil, set April 1, is $102.6 per metric ton. The June 1 duty follows from the March-April price monitoring.
Deputy head of the Russian Finance Ministry's customs payment board Alexander Sakovich earlier said the average price of Urals oil for that period was $47.6 per barrel. He also said the export duty for light oil products (gasoline and others) as monitored in March-April would be $104.1 per metric ton and black oil products (mazut, bitumen, coke, and others), $56 per metric ton. At present, the duty for light oil products is $81.4 per ton and black oil products, $43.8 per ton.
The new duties will become effective a month after the publication of the corresponding government resolution, most likely in late June.
