Belarus Reducing Export Duties on Oil and Oil Products

[2011-07-29 10:50:23]

Since January, Russian oil is supplied to Belarus duty free, but Belarus transfers the custom duties received from the sale of oil products from this oil, to the Russian budget.

Starting from August 1, the rate of export duty on crude oil will drop by nearly USD 7 - to USD 438 per ton. Even after reducing it, it will by no means be the lowest rate this year. Its level is determined each month based on the monitoring of the market.

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