MOSCOW, July 2 (RIA Novosti) - Russia will raise its oil export duty by $23.3 to $223.9 per metric ton from August 1, following an increase in world oil prices, a senior Finance Ministry official said Monday.
"The average price in May-June was $66.04 per barrel and, therefore, the maximum duty rate is $223.95 per metric ton," said Alexander Sakovich, deputy head of the ministry's tax and customs policy department.
The export duty for crude and petroleum products is adjusted every two months and is based on Russian Urals oil blend prices on world markets.
Sakovich also said export duty for light petroleum products would rise by $15.7 to $163.2 per metric ton, while export duty for heavy petroleum products would increase by $8 to $87.9 per metric ton from August 1.
