Gov`t approves new oil tariffs

The government approved new customs duties on oil products exported to the countries that are not members of the Customs Union Agreement. Russian Prime Minister Mikhail Fradkov has signed a corresponding decree, his office reported.

According to the document, the export tariff will amount to $35.2 per ton of crude oil and oil products. The governments approved a $31.7 tariff per ton of light and middle distillate fuel oil and gasoil.

The new tax rates will come into effect in one month after posting them, excluding tariffs on crude oil and oil products, which will become effective beginning April 1, 2004.