Belarus, Russia extend agreement on oil duties for 2014

The Government of Belarus and the Government of Russia have extended the agreement regulating the payment and distribution of export duties imposed on crude oil and individual oil products exported from the territory Belarus outside the Customs Union. The initial agreement was signed on 9 December 2010. The protocol on extending the agreement was concluded at the session of the Union State Council of Ministers that took place in Moscow on 13 December, BelTA has learnt.

Article 17 of the agreement provides that the agreement will cease to be effective as soon as the agreement on export duties between Belarus, Russia and Kazakhstan comes into effect. The latter has not been drafted yet, therefore the effective agreement on oil duties had to be prolonged.

In 2012 Belarus transferred to Russia $3.8 billion in export duties on oil products manufactured from Russian oil. In 2011 the figure stood at $3.07 billion.