Russia Recommends to Cut Oil Export Duties in Foreign Trade

The government committee on foreign trade protective measures has recommended the Cabinet to reduce from June 1st export duties on oil and oil products to $26.8 and $24.1 per ton respectively.

RIA Novosti learned this from a source in the committee headed by Deputy Prime Minister Alexei Kudrin. At present the export duties on oil and oil products equal $40.3 and $36.3 per ton respectively.

The committee drew conclusions from monitoring oil markets in March and April, where the average price of the Urals brand was $25.4 per barrel or $185.76 per ton, the source disclosed.