Medvedev has changed the calculation of export duties on oil.

President of Russia Dmitry Medvedev signed a law that changes the calculation of the rates of customs duties on exports of crude oil. It is reported by Interfax "
The document envisages a reduction from two to one-month period of monitoring crude oil prices in international markets, which is conducted to determine the export tariffs, as well as the duration and timing of the introduction of these duties.
It is noteworthy that the Government is reviewing the rate of duty more than once in two months and once a month already since 1 October 2008. Previously, tariffs set every two months based on monitoring of prices of brand Urals.
On December 1, the rate of export duty on Russian oil at 192.1 dollars per tonne. Back in early autumn, it was 485.8 dollars per tonne.
In recent months, according to the Finance Ministry, the Russian oil company lost about seven billion dollars due to the fact that the export duty on oil in the country is changing more slowly than the price of oil on world markets ( "Kudrin Scissors").
When the world began a sharp decline in the value of hydrocarbons, the high export duties have meant that Russian oil companies became unprofitable to sell raw materials abroad. Only in November the export of hydrocarbons from Russia fell by 17.6 per cent. As a result, the Government was forced to sharply reduce rates of duty.
November 4, Prime Minister of Russia Vladimir Putin said today that with each ton of oil exporters, bear a loss of 68 dollars.