With the official entry of Russia to the World Trade Organization (WTO) on August 22, Russia's import duty on casing, tubing and drilling pipes has been cut from 15 percent to five percent as of August 23, as reported by Moscow-based news agency Interfax. A similar reduction in import duties also concerns some types of large diameter pipes with product codes HS 7304.19.900 1, 7304.19.900.2, 7305.11.000.1, 7305.11.000.2, and 7305.11.000.3.
By 2015, the import duty on large diameter pipes will decrease from 15 percent to 7.5 percent, the import duty on welded casing has to be reduced from 15 percent to 7.5-10 percent, the import duty on stainless steel oil and gas pipes must be reduced from 15 percent to 10 percent, duty on stainless steel drilling pipes has to be cut to 7.5 percent, while the import duty on tubing and casing will be cut to 10 percent.