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Russia Applies Prohibitive Fuel Duty 'Gray Exports'

OIL PRODUCTS

Russia has applied prohibitive duties on a range of oil products for ‘gray exporters’.

  • These apply to exporters that buy domestic fuel and export it but do not produce it.
  • The duty for the oil products is set at 50,000 rubles ($500) per ton until January 1, 2026.
  • All major Russian oil producers are exempt because of their oil product production levels (+1mn tons of crude processed).
  • The measures are in place to try and ensure sufficient volumes remain in the domestic market and avoid price spikes like those seen recently for Russian consumers.
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