...

Russia to abolish oil export duty by 2025?

Oil&Gas Materials 20 October 2016 12:39 (UTC +04:00)
Russia’s Energy Minister Alexander Novak has said that it is expedient to zero the duty on oil expert by 2025.
Russia to abolish oil export duty by 2025?

Baku, Azerbaijan, Oct.20

By Leman Zeynalova – Trend:

Russia’s Energy Minister Alexander Novak has said that it is expedient to zero the duty on oil expert by 2025, Reuters reported.

“This is because we are expected to have a single oil and gas market in the Eurasian Economic Union by 2025 and this issue is on the agenda,” said Novak.

The minister pointed out that reducing the oil export duty should start only in 2021, no earlier than completion of the reconstruction and modernization of oil refineries.

The idea of zeroing the oil export duty was put forward by Russia’s Finance Ministry. Novak said he is aware of this proposal, but presently, there are no discussions on this issue at the government level.

Tags:
Latest

Latest