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Vladimir Putin signed Federal Law On Amendments to Articles 31 and 35 of the Russian Federation Law On Customs Tariff.
The Federal Law is aimed at maintaining in 2016 the procedure for calculating export customs duty on Urals crude oil in a scenario of Urals price remaining above $182.5 per ton that was in effect in 2015.
The Federal Law specifies conditions for the exemption from customs duty of goods exported from the Russian Federation and produced during the development of marine hydrocarbon field, when 50 or more percent of such field is located in the southern part of the Sea of Okhotsk (south of 55 degrees northern latitude).
November 28, 2015