Russia’s crude oil and most oil products export duty will be nullified starting from January next year in line with the so-called government’s “tax manoeuvre”.
The gradual reduction of the oil export duty in 2018 – 2024 is stipulated in the customs tariff law and is compensated by an increase in other taxes, mainly, mineral extraction tax.
Source: Reuters (Reporting by Vladimir Soldatkin; editing by Guy Faulconbridge)