A new, unified scale of duties for crude exported from all East Siberian fields which is not zero-rated, will come into effect on July 1, Russian Finance Minister Aleksey Kudrin said, according to RIA-Novosti.
"We are now drafting the formula for various oil prices; there will be a single rate for all fields, for every ton. That is, if the price changes, the export duty will also change. This is a scale, but it will be the same for all fields in East Siberia", Kudrin said.
He clarified that the scale would be applied to all 22 fields in East Siberia which are now using the zero-rate duty. He said it will be used from July 1, if all the necessary calculations can be finished by July 15.
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