Putin Signs Decree Cutting Oil Duty by a Third From Next Month
Russian Prime Minister Vladimir Putin has approved cutting the tax on exports of crude oil by one-third to $192.10 a metric ton from Dec. 1, rejecting calls for a bigger reduction, the government press service said.
Duties on light oil products and heavy oil products will fall to $141.80 and $76.40 a ton, respectively, according to the release.
Energy Minister Sergei Shmatko had lobbied for the crude duty to be reduced to $140 a ton, the Interfax news service said today.
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