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Russia suggests oil price premium reduction by $2/tonne annually to Belarus

This will make possible to partly compensate the effect from the export duty reduction, the energy minister said

© Egor Aleev/TASS

MOSCOW, February 21. /TASS/. Russian oil producers suggested a new pricing formula to Belarus, where the exporters’ premium is reduced by $2/tonne annually in proportion to the export duty decline, Energy Minister Alexander Novak told reporters on Friday.

"An approach was offered that addresses the export duty reduction, that is, slashing the premium by approximately $2 per tonne every year, in proportion to the export duty decline. This will make possible to partly compensate the effect from the export duty reduction," the minister said.

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