Russia to raise oil export duty in May

Russian will raise its oil export duty from the current 268.9 U.S. dollars to 284.063 dollars per ton as of May 1, which is a 5.6 percent rise monthly, the Finance Ministry said Thursday.

The export duties on light oil products will be raised from 193.5 dollars to 203.7 dollars per ton, and that of dark oil products from 104.2 to 109.7 dollars per ton, said the ministry.

The Russian government has set duties for oil and oil products monthly since Dec. 2008, in order to respond swiftly to fluctuations in world oil prices. Previously the duties were adjusted every two months.

Source:Xinhua