Belarus to transfer some $2bn in oil export duties to Russia in 2015

Belarus may transfer about $2 billion in customs duties on exported oil products to the Russian budget in 2015, BelTA learned from Belarusian Deputy Finance Minister Dmitry Kiyko in the House of Representatives of the National Assembly of Belarus on 5 June.

The official reminded that an agreement was reached in Astana on 29 May allowing Belarus to keep $1.5 billion of the total sum of the export duties while everything else will be transferred to Russia. “Taking into account the sums we get every year — $3.5 billion — one can expect that the Russian budget will get about $2 billion. So the distribution between the budgets will be roughly 40% to 60%,” said Dmitry Kiyko.

“The conditions Belarus will enjoy in 2015 will be the best ones over the last seven years with regard to such a sensitive issue,” said the official. He added that the arrangements concerning oil export duties are not tied to the volume of oil products that Belarus will supply to Russia.

Apart from that, Dmitry Kiyko also presented a bill on ratifying the protocol that extends the Belarusian-Russian agreement on the procedures to calculate and transfer export customs duties on crude oil and individual derivatives, which are exported from Belarus beyond borders of the Customs Union. The agreement is dated by 9 December 2010. The lower chamber of the Belarus parliament passed the bill.

Deputy Chairman of the International Affairs Commission of the House of Representatives of the National Assembly of Belarus Vitaly Busko explained that the effect of the agreement will be extended till 31 December 2014. The MP believes that later on additional bilateral agreements will be signed.