16 Nov 2015 09:28

Russian Duma passes bill to keep oil export duty unchanged in 2016 in first reading

MOSCOW. Nov 16 (Interfax) - Russia's State Duma passed a government-sponsored bill in the first reading on Friday that calls for keeping the procedure for calculating the export duty on oil in 2016 the same as it is in 2015.

The government estimates that keeping the duty unchanged next year instead of lowering it as previously planned will generate 193 billion rubles in additional revenue for the federal budget, the financial and economic rational for the bill states.