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The Government will be Able to Increase Export Duties on Oil Products
31.07.2018 13:35
The Government will be Able to Increase Export Duties on Oil Products

 The government will be able to increase export duties on oil products.

      The corresponding bill has been approved by the Federation Council. The introduced mechanism will be used to promptly respond to a situation where oil companies stop complying with obligations to support the prices at the required level. If this document is adopted, the Cabinet of Ministers will have the opportunity to increase export duties on petrol, diesel fuel, kerosene, toluene, xylenes, lubricating oils and other products, up to 90% of oil duties.

      Read More Articles on Doing Business in Russia

      Nowadays the export duty for petrol, naphtha, kerosene, light heating oil, oil and diesel fuel makes up 30% of the  oil duty rate, whereas the duty for straight-run petrol is 55%. At the same time, the marginal rate of the export customs duty on crude oil should remain at the level of 30%.


Author: Anna Dorozhkina

Tags: Russian oil Russian business Legal Services in Russia   

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