Russian President Dmitry Medvedev signed the law On amending article 3 of the Law On Customs Tariff , the press-service head of state. Changes to the order establishing the rates of export customs duties on crude oil.A reduction from two to one-month period of monitoring crude oil prices on international markets of oil feedstock, conducted for the purpose of export duties on crude oil, as well as the duration and timing to implement these fees. The law stipulates that the period of monitoring crude oil prices on world markets of oil raw material (Mediterranean and Rotterdam) is the period beginning with the 15 th of each calendar month on the 14 th of next month, inclusive, starting from October 15, 2008. The law also shortens the duration of the rates of export customs duties on crude oil and certain categories of goods produced from crude oil, up to one calendar month, set a deadline to implement these rates from 1 of the calendar month following the end of monitoring, and provides That the decision of the Government of the Russian Federation to modify the rates of export customs duties be published no later than 1 day before the date of their entry into force.
