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. Last Updated: 07/27/2016

Oil Duty Agreed On

MOSCOW -- The government and Russia's biggest oil companies have agreed to increase the oil export duty soon to 7.5 euros ($7.81) per metric ton, Interfax quoted Fuel and Energy Minister Viktor Kalyuzhny as saying Friday.

The duty was 5 euros.

Kalyuzhny said the agreement, reached at a meeting chaired by First Deputy Prime Minister Nikolai Aksyonenko, would be signed by Prime

Minister Vladimir Putin after Putin returns from the APEC summit in New Zealand, the agency reported.

A voluntary agreement on lower oil prices for domestic industry and agriculture signed in summer would remain in effect until harvesting ended and severe climate regions received supplies, Kalyuzhny was quoted as saying.