Crude oil and petroleum export duties contribution to Russia’s federal budget revenues

Abstract

The article assesses the role and importance of customs duties as well as crude oil and petroleum export duties for Russia’s federal budget. The author assesses the share of crude oil and petroleum export duties both in the charges of Russia’s Federal customs service and in the country’s budget revenues over the 2010 – 2015 period. Basing on the 2015 annual Russia’s Federal customs
service report, it is concluded that the implemented «big tax maneuver» by the Government of the Russian Federation in 2015, which was expected to reduce negative impact of the global oil prices on Russia’s federal budget oil revenues, should be improved.