international magazine
11 / 2008

The lines close
The Russian government introduces monthly export duties for crude

The world financial crisis which resulted in crashing crude prices was extremely negative for Russian oil companies. Nearly all of them have large credit burdens and it is now more difficult than ever for them to service their expensive debts at Western banks. The value of shares in Russian companies has dropped to very low depths a fact unlikely to brings smiles to the faces of their owners or even hired managers who were counting on big earnings from exercising options.