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Export duty on Russian oil to be reduced to $24.7 per ton from December 1

According to the ministry, the average price for Urals oil for the monitoring period from October 15 to November 14, 2023, was $79.23 per barrel or $578.4 per ton

MOSCOW, November 15. /TASS/. The oil export duty will be reduced by $1.5 to $24.7 per ton from December 1, 2023, according to the telegram channel of the Russian Ministry of Finance.

"According to calculations by the Russian Ministry of Finance, the export duty on oil in the Russian Federation from December 1, 2023 will decrease by $1.5 and amount to $24.7 per ton," the statement said.

According to the ministry, the average price for Urals oil for the monitoring period from October 15 to November 14, 2023, was $79.23 per barrel or $578.4 per ton.

According to the ministry, the duty on light oil products and oils will also decrease and reach $7.4 per ton, and on dark oils - $24.7. The export duty on commercial gasoline will be $7.4, straight-run (naphtha) - $13.5 per ton.

The State Duma adopted revisions to the Budget Code in first reading on October 11, proposing calculating the budget rule based on a base oil price of $60 per barrel. The document is budget-forming and was submitted to the Russian State Duma at the same time as the draft federal budget for 2024-2026.

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