The Russian government has approved a rise in export tariffs on crude oil and petrochemical products which will take effect on April 1. The average rise will be 55.6%. According to the government's press office, the relevant order was signed today by Prime Minister Mikhail Kasyanov. The customs duty on oil exports will now be USD 40.3 a tonne instead of the former USD 25.9 a tonne. Export duty on refined oil products will rise from USD 23.3 a tonne to USD 36.3 a tonne.
On February 1, 2003 duty on oil exports was reduced from USD 29.9 a tonne to USD 25.9 a tonne. At the beginning of February the Russian government also introduced a unified rate of export duty on refined oil products being exported beyond countries belonging to the Customs Union. This rate was set at USD 23.3 a tonne. Previously a duty of USD 26.8 had been levied on most refined products.
US President Joe Biden and Iraqi Prime Minister Mustafa Al Qadimi signed an agreement on July 26 to formally end the USA's military presence in the country by the end of the year