MOSCOW, April 29 (RIA Novosti) - The Russian
government announced on Wednesday the raising of oil export
duty from the current $110 to $137.7 per metric ton from May 1.
The figure was calculated proceeding from the average
price of Russia's Urals blend at $47.8845 per barrel in the
period of March 15 - April 14.
As of May 1, the duty on light petroleum products will
rise to $105.1 per metric ton from the current $86.4 per ton
and on heavy petroleum products to $56.6 per ton from the
current $46.5 per ton.
Last year, the government abandoned its previously
accepted bimonthly adjustments of export duties based on the
price of the Urals blend on global oil markets and from
December 1 switched to setting duties for oil and oil products
on a monthly basis to respond more swiftly to changes in world
The global financial crisis has forced Russia, which
receives a large part of its revenues from oil exports, to
gradually devalue the ruble amid capital flight and a fall in
global oil prices, which declined from their peak of $147 per
barrel in July 2008 to around $40 per barrel, rising in recent
weeks to $50.