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Oil export duty in Russia to rise by $4.5 starting September 1 to $21.4 per ton

According to the Finance Ministry, the average price of the Urals crude oil amounted to $70.33 per barrel in the monitoring period from July 14 to August 14, 2023

MOSCOW, August 15. /TASS/. Export duty on Russia’s oil will go up by $4.5 to $21.6 per ton starting September 1, 2023, the Finance Ministry reported on Tuesday.

"According to the Russian Finance Ministry’s calculations, export duty on the Russian oil will rise by $4.5 to $21.4 per ton starting September 1, 2023," according to a statement released on the ministry’s Telegram channel.

The average price of the Urals crude oil amounted to $70.33 per barrel, or $513.4 per ton, in the monitoring period from July 14 to August 14, 2023, according to the ministry.

The export duty per ton will total $6.4 on light oil products and oils, $21.4 on dark oil products, $6.4 on commercial gasoline, and $11.7 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 $1.3 per ton.

The oil export duty currently stands at $16.9 per ton.

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