Russia Raises Export Duties on Oil

Russia will raise its export duty on oil by $4.50 to $21.60 per ton starting Sept. 1, the Russian Finance Ministry announced. According to the state-owned news agency Tass, the export duty per ton will amount to $6.40 on light oil products and oils, $21.40 on dark oil products, $6.40 on commercial gasoline and $11.70 on straight-run gasoline. The duty for liquefied natural gas will remain at zero, while the coke duty will be $1.30 per ton.