Government commission to consider oil export duties

The Russian government commission for protective measures in foreign trade will consider changes to export duties on raw oil and oil products, a source close to the commission reported to RBC. According to the source, export duties are calculated on the basis of monitoring of oil prices. According to such data as of December 25, 2002, export duties should be reduced to $24.5 per ton. However, the source believes that the commission will decide to reduce duties to about $25 per ton. These export duties will be effective for two months starting on February 1. As of now, the oil export duty is $29.8 per ton for raw oil and $26.8 per ton for oil products.

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