Reply #11: Russia Might Raise oil Export Tariffs (article Sept. 3) [View All]

[Dover]

Russia might raise oil export tariffs

September 3, 2003
RBC

On Tuesday, the Government Commission for Protective Measures in Foreign Trade and Customs and Tariff Policy is scheduled to consider the possibility of raising oil export tariffs from $25.1 to $33.8 per ton starting on October 1, 2003, a source in the Finance Ministry told RBC.

According to the source, the increase is due to a rise in oil prices. Indeed, the average price of Urals oil on the international market was $27.84 per barrel in July-August 2003, against $24.86 per barrel in May-June.

Export tariffs on oil products might be raised from $22.6 to $30.4 per ton (90 percent of the oil tariff). A decree on raising oil tariffs could be signed and published by September 20, 2003, the official added....>

http://www.rusnet.nl/news/2003/09/03/businesseconomics03.shtml

Also this article:

...Their oil ministers also signed their first formal market agreement, pledging to co-ordinate supply and closely monitor world prices. Both states are heavily dependent on oil with Russia's economic recovery since its 1998 economic crisis largely due to soaring output and the high price of crude oil.

Also agreed in Moscow was the creation of the first Russo-Saudi consortium in which Russia's leading gas pipeline builder and leading Saudi construction companies will join efforts to develop Saudi gas fields.

..snip..

The BBC's Steven Eke reports from Moscow that Russian diplomats may be expecting a clarification of Riyadh's stance on Chechnya.

Russia has long suspected Saudi financiers of backing separatist rebels in its mainly Muslim Chechen region.
Russia, our correspondent reports, believes it can benefit from the cooling of Saudi Arabia's relationship with Washington in the aftermath of the 11 September terror attacks.

Billions of dollars of Saudi money have been pulled out of the United States and Russia wants to offer itself as an attractive new destination...>>


http://www.rusnet.nl/news/2003/09/03/politics01.shtml