The average foreign exchange price of a barrel of Russian Ural oil in the period from January 15 to February 14, 2023 was around 50.51 dollars. In monetary terms, this figure is 368.7 USD per ton, reported On the website of the Ministry of Finance of the Russian Federation (MinFin).
“For the monitoring period from January 15 to February 14, 2023, the average price of Ural oil stood at $50.51 per barrel or $368.7 per ton,” the ministry said.
According to the calculations of the Ministry of Finance, the export tax to be applied to oil in Russia from the beginning of the spring of 2023 will increase by 1.4 dollars to 14.2 dollars per ton. Currently, this figure is around $12.8 per tonne of raw material. The ministry also said that taxes on the export of “light” and “dark” petroleum products and commercial gasoline will increase from 1 March.
“The tax on light petroleum products and oils will increase from $3.8 to $4.2 per ton, and the tax on dark petroleum products and oils will increase from $12.8 to $14.2. The Ministry of Finance stated that the customs duty on commercial gasoline exports will increase from $7.0 to $7.8 per ton, and $4.2 in normal (naphtha).
Analysts of the International Energy Agency (IEA) February 15 sent Statistics showing that Russia’s federal budget revenues from oil operations fell 48% in January 2023. In the first month of this year, this figure decreased to 310 billion rubles, or 4.2 billion dollars, while the country’s income from raw material exports decreased by 36 percent to 13 billion dollars in the same period.