Russian oil export duty up $50

Russia has raised the crude export duty to $460.7 per ton from $411.2, RIA Novosti the government website as saying.

The decree, signed by Prime Minister Vladimir Putin, takes effect on April 1.

The gasoline export tax was raised to $414.6 per ton from $370.1 in March.

The Russian government hopes to stimulate oil companies to refine their entire oil production at domestic refineries.