ANNOUNCED AS TEMPORARYNo
Decree No. 251 of 30 March 2016 of the Government of the Russian Federation decreases the incremental coefficient in the initially introduced in 2013 methodology for calculation of the export customs duties on certain types of crude oil.
Concretely, it reduces the incremental coefficient k from k=42% to k=36% (previously, k was fixed at 42% for all calendar months that precede the period 1 January 2016-31 December 2016 inclusive) in the following formula, introduced by Decree No. 276 of the Government of the Russian Federation of 29 March 2013:
P = (URALS-182.5)*k - 56.57 - URALS *0.14 > = 0
Decree No. 276 clarifies that if the value of P is negative, then P is substituted by zero.
Decree No. 251 enters into force on 1 June 2016.
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