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Russia’s finance, energy ministries agree to gradually abolish crude export duty

June 19, 14:45 UTC+3 SHANGHAI

The Finance Ministry will continue consultations with the Energy Ministry and oil companies regarding the issue.

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SHANGHAI, June 19. /TASS/. Russia’s government has reached an agreement on a gradual abolition of crude export duty instead of a one-off removal, Finance Minister Anton Siluanov said on the sidelines of the BRICS finance ministers’ meeting in Shanghai on Monday.

"We’ve agreed to do it gradually," so that "refining companies that have not upgraded yet, are not affected," he said.

According to Siluanov, the Finance Ministry will continue consultations with the Energy Ministry and oil companies regarding the issue.

Earlier the Ministry did not rule out a one-off removal of the crude export duty, for example, Deputy Minister Ilya Trunin offered the move starting 2018.

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