Russia's government has decided to cancel all export duties on oil produced in East Siberia, the Interfax news agency reported late Thursday citing the country's Energy Minister Sergey Shmatko.
Shmatko said it hadn't been decided how long the proposed zero duty would remain in effect, but added that the government would give details on the proposal in one to two months.
"It will all depend on the state of the market, but in my opinion it needs to be in force for about three years," he said.