Russia To Cut Oil Export Tariffs To $89 Per Tonne - Finance Ministry

Rukhshan Mir (@rukhshanmir) Published December 17, 2018 | 05:05 PM

Taxes on oil exports from Russia in January will sink to $89 per tonne from $135 this month, according to estimates published by the Finance Ministry on Monday.

MOSCOW (UrduPoint News / Sputnik - 17th December, 2018) Taxes on oil exports from Russia in January will sink to $89 per tonne from $135 this month, according to estimates published by the Finance Ministry on Monday.

Russia's crude benchmark, Urals, traded at an average of $60.47 per barrel, or $441.4 per tonne, from November 15 to December 14, the ministry said.

Duties on liquefied natural gas and liquefied petroleum gas will be reset to zero on January 1, while tariffs on heavy crude will drop to $8.9 from $22.3.

Taxes on light distillates and oils will go down to $26.7 per tonne, while tariffs on heavy distillates will be reduced to $89 per tonne. Taxes on gasoline will be set at $26.7 per tonne and on naphtha at $48.9.