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Russia to raise oil export duty to record $340/ton on Apr. 1

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Russia will raise its duty on oil exports to a record $340.1 per metric ton on April 1, in line with global market trends, the government press service said on Wednesday.
MOSCOW, March 19 (RIA Novosti) - Russia will raise its duty on oil exports to a record $340.1 per metric ton on April 1, in line with global market trends, the government press service said on Wednesday.

On February 1, Russia raised oil export duties by $58.4 to $333.8 per metric ton against a backdrop of surging global oil prices.

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

Export duties on light oil products will rise to $241.4 per metric ton from April 1 against $237.2 in February-March, and duty on heavy petroleum products will grow to $130.1 per ton from $127.8.

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