Zero export crude duty set for East Siberia oil; Russian government to introduce tax incentive for remote region

摘要

Moscow-Russia is set to introduce a nine-month zero rate export duty for crude oil from 13 major oil fields in East Siberia to help finance development of the remote oil province, a representative from the Russian Energy Ministry said July 21. The comments follow a resolution by the government July 20, which detailed the introduction of the rate within two months of its announcement.