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Oil export duty in Russia to rise by $1.3 starting August 1 to $16.9 per ton

It is noted that the average price of the Urals crude oil amounted to $58.03 per barrel

MOSCOW, July 17. /TASS/. Export duty on Russia’s oil will go up by $1.3 to $16.9 per ton starting August 1, 2023, the Finance Ministry reported on Monday.

"According to the Russian Finance Ministry’s calculations, export duty on the Russian oil will rise by $1.3 to $16.9 per ton starting August 1, 2023," according to a statement released on the ministry’s Telegram channel.

The average price of the Urals crude oil amounted to $58.03 per barrel, or $423.6 per ton, in the monitoring period from June 15 to July 14, 2023, according to the ministry.

The export duty per ton will total $5 on light oil products and oils, $16.9 on dark oil products, $5 on commercial gasoline, and $9.2 on naphtha (straight-run gasoline), according to the ministry’s calculations. The duty on liquefied natural gas and clean fractions of liquefied petroleum gas will be zero, whereas the coke duty will amount to $1 per ton.

The oil export duty currently stands at $15.6 per ton.

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