BELARUS NEWS AND ANALYSIS

DATE:

28/11/2008

Belarus raises issue lifting of Russian special duty on oil

MINSK. Nov 28 (Interfax) - The Belarusian government is planning to initiate the cancellation of the Russian special duty on oil supplied to Belarus, Belarusian Deputy Prime Minister Andrei Kobyakov said.

"We are raising the issue of canceling the Russian special duty on oil for Belarus," Belarusian Deputy Prime Minister Andrei Kobyakov told reporters in Minsk on Friday.

This proposal is made due to the agreement reached by the presidents of Russia and Belarus to create a full-fledged customs union by the end of 2010, Kobyakov said. Russia and Belarus are currently considering the possibility of creating a customs union by January 1, 2010, he said.

For this reason, import duties on products imported into Belarus from Russia, including the special duty on oil, have to go, Kobyakov said, calling this duty "a rudiment or an atavism in the mutual trade between the two countries."

Russia has used the special duty on oil supplied to Belarus since 2007. This duty is a mechanism of interbudget division of export duties on Belarusian petroleum products. The division of Belarusian duties on petroleum products is the main condition for the supply of oil to Belarus at prices lower than the world prices. The Belarusian budget compensates oil processing companies for part of the special duty depending on the price situation on the oil and petroleum products market. The amount of compensation is determined on a monthly basis by an interdepartmental commission on fuel import.

The source of compensation is the export duties on petroleum products coming to the Belarusian budget, whose amount is unified with the Russian duties.

Source:

http://www.interfax.com/3/450398/news.aspx

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