Putin signs decree cutting export oil duty to $100.9 per ton

Russian Prime Minister Vladimir Putin has signed a government decree setting oil export duty at $100.9 per metric ton as of February 1, the government press office said on Thursday.

The oil export duty currently stands at $119.1 per ton.

Last year, the government abandoned its previously accepted bimonthly practice and from December 1 has set export duties on oil and oil products on a monthly basis to respond more swiftly to changes in world oil prices.

Alexander Sakovich, deputy head of the Finance Ministry's customs payments department, earlier said the average oil price was $40.16 per barrel from December 15, 2008, through January 14, 2009.

From February 1, the duty on light petroleum products will total $80.3 per ton against the current $92.6 per ton and on heavy petroleum products $43.2 per ton against the current $49.9 per ton.