23 Oct 2009 12:26

Export duty on oil from Eastern Siberia fields to be zeroed out monthly

MOSCOW. Oct 23 (Interfax) - The export duty on oil extracted at 13 fields in Eastern Siberia will be zeroed out by government resolution each month, Economic Development Ministry's head of trade regulation Alexei Likhachev told journalists on Friday.

"It must be down using the monthly government resolution confirming the oil export duty in the following month," he said.

Likhachev recalled that the government approved zeroing out the duty for oil from 13 fields in Eastern Siberia. The Federal Customs Service and the Energy Ministry are working out the system for implementing the measure. "As soon as we receive those instructions, we will most likely discuss the matter with [First Deputy Prime Minister Viktor] Zubkov and then we can zero out the relevant customs codes," Likhachev said. That might happen "as early as November," which would allow Eastern Siberian oil to be exported at a zero export duty in December.