16 June 2022

Russia Increases Oil Export Duties to $55.2 Per Ton As of July 1

International and Arabic
  • Russia

Moscow, June 16 (QNA) - The Russian Ministry of Finance announced that, as of next July, Russias export duty on oil will increase by $10.4 and will reach $55.2 per tonne.
According to the Ministry, the average price for Russian export oil Urals from May 15 to June 14, 2022, was $87.49 per barrel, or $638.7 per tonne.
In addition, the duty on light oil products will rise to $16.5 from $13.4 per tonne and dark oil products to $55.2 from $44.8. The duty on liquefied gas (LNG) will amount to $110.4, the duty on pure LPG fractions - $99.3, and the duty on coke will be $3.5 per tonne.
Currently, the export duty on oil is $44.8 per tonne. The Russian Ministry of Finance said earlier that Russias budget in May 2022 increased revenues from the oil and gas industry by 42.7 percent year-on-year to 886 bln rubles ($14.43 bln).(QNA)


Economy, International
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