Russian PM proposes raising duties on oil, fuel oil exports

Russian Prime Minister Mikhail Fradkov proposed Tuesday increasing duties on exports of crude oil and fuel oil.

He was speaking during a meeting of officials devoted to the economic development of Russia's Far East.
The measure would encourage oil refining in Russia, he said, apparently referring to the production of oil products other than fuel oil.

At present, the duty on crude oil exports amounts to $200.6 per tonne, while the duty on heavy oil products, including fuel oil, stands at $79.4 per tonne.