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Oil export duty up again in Russia

Xinhua, June 1, 2016 Adjust font size:

The export duty on oil in Russia was increased by 14.6 U.S. dollars to 80.6 U.S. dollars per ton on Wednesday, Interfax news agency reported.

This marks the latest of oil export tax rises in three successive months in Russia. The oil producing country raised the export duty to 66 dollars per ton in May from 54.9 dollars in April.

Russia adjusts the export duty on oil and oil products each month according to conditions on the international market. Monthly declines had been recorded from last December through April in efforts to push up oil export. Endi