Russia to raise oil export duty to record $495.9/ton from August

MOSCOW, July 22 (RIA Novosti) - Russia's government has approved a rise in Russian oil export duty of $97.8 to a record $495.9 per metric ton as of August 1, the government press service said on Tuesday.

Export duties on light oil products will rise to $346.4 per ton from August 1, 2008, from the current $280.5, and duty on heavy petroleum products will grow to $186.6 per ton from $151.1.

The government adjusts export duty on crude and petroleum products every two months, depending on changes in the Urals blend price on world markets.