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Official website of the President of Russia

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Amendments to the Law on Customs Tariffs

December 4, 2012

Vladimir Putin signed Federal Law On Amendments to the Russian Federation Law on Customs Tariffs.

The amendments concern procedures for setting export duties on crude oil and certain types of oil products.

In particular, the Russian Government will set export duty rates for crude oil and certain oil products based on the average oil price on the global oil market. Acting on this basis, the federal agency empowered by the Russian Government will then calculate the specific rates and inform the customs authorities and market actors accordingly.

The law vests the Russian Government with a set of powers to use particular calculation methods in order to promote the marginal oil-field development. 

December 4, 2012