Bloomberg News

Russian Energy Ministry Calls for Oil Tax Cut in 2014, IFX Says

March 26, 2012

Russia’s Energy Ministry proposed cutting the export duties on crude oil and refined products starting from 2014, Interfax reported, citing a letter from Deputy Minister Sergei Kudryashov to the government.

The crude duty would be calculated using a coefficient of 55 percent, down from 60 percent now, and the tax on most refined products would be set at 60 percent of that level, compared with 66 percent now, the news service said.

To contact the reporter on this story: Stephen Bierman in Moscow at sbierman1@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net


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