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. Last Updated: 07/27/2016

Putin Signs Oil Duty

MOSCOW -- Russian Prime Minister Vladimir Putin has signed a governmental resolution that increases the export duty on oil to 15 euros ($15.33) per metric ton, Interfax quoted First Deputy Prime Minister Viktor Khristenko as saying Monday.

The resolution cannot take effect before it is published.

The duty, which rose to 7.5 euros in September from 5 euros, has been raised to keep in line with rising world oil prices.

Fuel and Energy Minister Viktor Kalyuzhny, who opposes any increase in the duty, met the heads of Russian oil majors Saturday to discuss the duty, Interfax reported.