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Belarus raises export taxes on crude oil to Russia’s level

September 01, 2012, 4:33 UTC+3
Under the Council of Ministers’ resolution, the export tax on crude oil as of September 1 will go up from 336.6 dollars a tonne to 393.8 dollars a tonne
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MINSK, September 1 (Itar-Tass) —— Belarus is raising the export taxes on crude oil and petroleum products to Russia’s level as of September 1 under a decision by the Council of Ministers.

Earlier, since May last year Minsk followed in Moscow’s footsteps to lower the export taxes on oil and oil products every month.

Under the Council of Ministers’ resolution, the export tax on crude oil as of September 1 will go up from 336.6 dollars a tonne to 393.8 dollars a tonne.

Since October 1, 2011 Belarus has exported tax-free Russian crude. In exchange it transferred to Russia the proceeds from customs duties on oil products made of Russian oil and exported to third countries. Belarus keeps the export duty from exporting domestically produced oil (about 1.7 million tonnes a year).

In January-July 2012 Belarus transferred to Russia 2.4 billion dollars of customs taxes on exported oil products made of Russian crude.

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