61.2 dollars per ton will be the amount of duty on oil exports from the Russian Federation
61.2 dollars per ton will be the amount of duty on oil exports from Russia from April 1, 2022, the Ministry of Finance said yesterday. This is $2.9 higher than the current March rate. The new amount of duty is determined based on the average price of Urals oil for the monitoring period from February 15 to March 14 at $95.6 per barrel ($91.7 a month earlier), or $697.8 per ton, the Ministry of Finance explained. Due to the military operation in Ukraine, a number of importers are now refusing to buy Russian oil - as a result, the price differential for Urals to the benchmark Brent grade at auctions in Europe last week reached a record $25-28 per barrel. That is, for example, when the price of Brent is above $110 per barrel, Russian oil was bought only at $85.