New oil export taxes come into effect today

New taxes on crude oil and oil product exports outside the Customs Union have come into effect today. Russian Prime Minister Mikhail Kasyanov signed a corresponding ruling on March 14, 2003. Oil export taxes have been increased from $25.9 to $40.3 per ton, and taxes on oil product exports have advanced from $25.9 to $36.3 per ton as of April 1, 2003.

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