Russia's oil export duty, now standing at 69.9 dollars, is readjusted every other month to reflect price fluctuations on the world's commodity markets, Sakovich explained. The rate for October is based on the average price of Russian crude in the July-August period-37.388 dollars per barrel.
Under Russian legislation, the government's decree on the readjustment of the oil export duty shall be made public at least ten days before its planned introduction, or before September 20 in this case.
The Finance Ministry official also announced that the oil export duty would be discussed at a Sept. 3 session of the Commission for Protective Measures in Foreign Trade.
The export duty for refined oil products has now been set at 45.5 dollars per ton.
