Semashko and Sechin to Negotiate on Oil Crude Duties

29.11.2010 14:55

Russian Deputy Finance Minister Sergei Shatalov said at the Russian Economic and Financial Forum in Germany on November 29 that Russia and Belarus would hold talks the following week on the size of export duties on oil products. According to Deputy Finance Minister, the talks will be held at the level of Deputy Prime Ministers of Russia and Belarus Vladimir Semashko and Igor Sechin.

«I think there will be Semashko — Sechin negotiations this week. If they can agree, we’ll be in a high degree of readiness then,» Sergei Shatalov said.

The Deputy Minister also explained that the question of oil, produced in Belarus, hadn’t been resolved yet. It’s still unclear whether it’s for the domestic market or could be used for the production of exported oil products, RIA «Novosti.»

«This is the problem of substitution: Belarus either consumes the oil, and then all, that is made of Russian oil, goes to the foreign market; or they replace the Belarusian oil and make oil products out of the Russian materials to go on the domestic market, thus exporting Belarusian oil products, Sergei Shatalov said.
In this case, Russian Deputy Minister of Finance stressed that the price of the question for Russia is about $1 billion.