Belarus Wants to Have Say in Russia Oil Export Duties

[2011-09-19 13:50:06]


RIA Novosti quoted a government source said Minsk wants to participate in Russia decision making on oil export taxation as they influence the Belarusian economy.

Mr Vladimir Putin Russian Prime Minister has signed a cut in crude oil export duty to 60% of average weighted market price and export duty rate for dark and light oil products at 66% of the crude oil export duty from October 1. Gasoline export duty was kept at 90% of crude oil as the government would like to use it to saturate the domestic market with the fuel.

The source said "Russia sets gasoline export duty at 90% in oil from May 1 which in fact is prohibitive for its exports. Belarus under its agreements with Russia is obliged to take similar measures, although the situations in the oil industry of Belarus and Russia are different."

The source said Minsk intends to hold consultations with Moscow to get an opportunity to influence the export taxation policy under the Customs Union of Russia, Belarus and Kazakhstan.

He added that "We would like the Belarusian side to also be involved in preparing such decisions because they directly affect the Belarusian economy."
Source: Steelguru
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