Cabinet Raises Export Duties on Oil, Petroleum Products

The Belarusian Council of Ministers raised the rate of the crude oil export duty from $398.1 to $495.9 per ton starting from August 1.

The export duty on light and middle distillates, gasoil, liquefied petroleum gases, benzene, toluene and xylol was increased from $280.5 to $346.4 per ton and on oils, fuel oils, petroleum coke, asphalt and other petroleum byproducts from $151.1 to $186.6 per ton.

Belarus has changed the rates of the export duties on petroleum products under an agreement with Russia signed last year. Under the accord, the two countries should have the same rates of the duties.

Russia revises the rates of the export duties on oil and petroleum products every two months depending on a change in world oil prices. The rate of Russia's duty on oil exports to Belarus is 33.5 percent of the rate applied to crude exports to other countries. The duty rose from $133.4 to $166.1 per ton on August 1. //BelaPAN