Russia will cancel oil export duties for Belarus from January 1, if Minsk ratifies all agreements to create a Unified Economic Space, Russia's Economic Development Minister Elvira Nabiullina said on Thursday.
"We are cancelling all oil duties in mutual trade. We will supply oil duty-free to Belarus, while duties on oil products will be charged on external borders and transferred to the Russian budget," Nabiullina said.
The decision to cancel the duties, which will save Belarus almost $4 billion, will come into effect after Belarus ratifies agreements on the Unified Economic Space, she added.
MOSCOW, December 9 (RIA Novosti)