24 Sep 2012 15:29

Russian govt to formalize oil-export duty calculation formula in law

GORKY. Sept 24 (Interfax) - The Russian government has decided to enshrine in law the formula rules for calculating oil-export duty rates, Russian Energy Minister Alexander Novak said after a meeting with Prime Minister Dmitry Medvedev.

At the present time export duty rates are affirmed by government resolution on a monthly basis, Novak said. "Today it was decided that they need to become law," he said.