OREANDA-NEWS. July 16, 2009. Russia will raise its oil export duty from the current USD 212.6 to USD 222 per metric ton from August 1, the Finance Ministry said on Wednesday.

The average oil price was USD 65.65 per metric ton from June 15 to July 14, said Alexander Sakovich, deputy head of the ministry's customs department.

Duty on light petroleum products will rise to USD 161.9 per ton and to USD 87.2 for heavy petroleum products.

Last year, the government abandoned its previously accepted bimonthly adjustments of export duties based on the price of the Urals blend on global oil markets, and from December 1 switched to setting duties for oil and oil products on a monthly basis to respond more swiftly to changes in world oil prices.

The move eased the tax burden on crude producers, who previously lost around USD 7 billion over high export duties.