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Russian oil export duty may hit record of $239 per ton Oct. 1

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MOSCOW, August 28 (RIA Novosti) - The export duty on Russian oil may total $238-239 per metric ton starting from October 1, a top customs official said Monday.

The duty is revised once every two months and depends on Urals crude prices on the international market. On August 1, the figure was set at $216.4 per ton.

"Export duty may hit a record high $238-239 per ton from October 1," said Alexander Sakovich, deputy head of the taxation and duties department with the Finance Ministry.

Sakovich said if the oil price fell to $65 per barrel in the three days left until September, the customs duty would be $238 per ton, but if the price remained as high as the current level of $68 for Urals crude, then the figure would be $239.

"If the oil price climbs to $70, customs duty would be $239.7," he said.

Urals is the leading blend of Russian oil, but suffers from a high level of sulfur in comparison with Brent crude.

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