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News // Oil and gas worldwide

Russian Union of Oil Exporters Interested In Import Duties Lowering

15 March 2001 , 15:00519
The Russian Union of Oil Exporters considers it necessary to decrease the rates of import duties for 50 kinds of technological equipment for the oil industry, which have no analogues in the domestic industry, the Union`s executive director Euvgeni Samoilov said. According to him, the Union is preparing the list of equipment, the import of which is necessary for oil-producing and oil-refining industries and therefore should not be taxed or taxed at minimal rates. He underlined that currently tha majority of the Russian oil companies are carrying out the technical modernization of their plants, which demands large amounts of money. He added that the majority of orders is placed at the Russian enterprises, but for those types of equipment, which are not produced in Russia and will be imported, a favourable mode of customs duty is to be introduced.

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