Customs duty on crude oil and petroleum products from Russian oil now remain in Belarus

As of 1 January 2015 the customs duty on crude oil and petroleum products produced from Russian oil remain at the disposal of Belarus, BelTA reports. According to representatives of the Government of Belarus in the coming years Belarusian factories should be ready for processing of oil in excess of 23 million tons, which requires launching additional capacity.

Earlier the Presidential Administration commented that as the so-called Russian oil tax maneuver resulted in a significant deterioration in the terms of trade in oil and oil products for Belarus, expressed in losses of more than $ 1 billion. Following negotiations between the parties at the government level, it was decided that all export duties, which are generated by export of oil products from Belarus, in 2015 are transferred to the Belarusian budget.