Belarus to keep $1.5bn in export duties on oil products in 2015

$125 million in export duties on oil products will stay in the Belarusian budget every month in 2015, member of the Council of the Eurasian Economic Commission Sergei Rumas told reporters in Minsk on 30 May, BelTA has learnt.

“The baseline amount (of duties on oil products – BelTA’s note) that we will discuss next year is $1.5 billion. Belarus will keep this amount no matter whether we arrive at any agreement or not,” the expert said. In his view, this is very advantageous for Belarus. Sergei Rumas is convinced that there will not be any setbacks taking into consideration Belarus’ relations with Russia.

BelTA informed earlier, that the Eurasian Economic Union Treaty was signed by Belarus, Russia and Kazakhstan in Astana on 29 May. Belarus is in favor of a full-fledged customs union without any restrictions in the movement of goods.

One of the most important advantages for Belarus in the Eurasian Economic Union is getting access to energy resources on the same terms as are offered to economic operators of the two partners. However, Russia and Kazakhstan are still not ready to fully open their markets. Therefore, the draft treaty provides for the establishment of common (single) markets of oil, oil products, gas and electric energy by 2025. The issues that are the most sensitive for Belarus are to be settled in the bilateral format during the transition periods.