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Belarus raises export duties for oil, oil products

Oil&Gas Materials 1 June 2020 15:41 (UTC +04:00)
Belarus raises export duties for oil, oil products

BAKU, Azerbaijan, June 1

By Leman Zeynalova – Trend:

Belarus has increased the export duties for oil and oil products exported outside the customs territory of the Eurasian Economic Union, Trend reports with reference to the government decision.

The decision entered into force on June 1.

The export duty on crude oil will stand at $8.3 per ton, compared to the previous $6.8.

The duty on straight-run gasoline has been increased from $3.7 to $ 4.5 per ton.

This is while the export duty for marketable gasoline, light and medium distillates rose from $2 to $2.4 per ton. The same amount of duty has been set for diesel fuel, benzene, toluene, xylene, lubricants and other oils.

Earlier this year, Belarus suspended the export of oil products to cover the domestic market demand, since Russia stopped gas supplies to Belarus.

Russia suspended oil supplies to Belarus on Jan. 1 in relation to a dispute over supply contract terms between Moscow and Minsk. Two Russian firms, Russneft and Neftisa, restored some supplies late on Jan. 4.

After some break, the country resumed its exports of oil and oil products albeit not at the level envisaged in the business plan.

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Follow the author on Twitter: @Lyaman_Zeyn

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