Finance Ministry Not to Cancel Oil Duty for Belarus until 2012

15.10.2010 14:24
Архив Редакция

Russia may abolish export duty on crude oil and petroleum products, supplied to Belarus, no sooner than 2012 on condition of  adequate compensatory measures are introduced. This was stated by Deputy Russian Finance Minister Sergei Shatalov, commenting on the decision of the CIS Economic Court.

According to Sergei Shatalov, the abolition of fees is discussed in the launch of the Common Economic Space (CES). In this case, Deputy Finance Minister explained that the abolition of fees could take place, when the CES began to work in full force, RBC reports.

According to Sergei Shatalov, if the parties fail to agree on «adequate compensatory measures», the abolition of fees can be regarded as «subsidizing of the Belarusian economy».

As Telegraf reports, Russia has introduced oil customs duties to Belarus since January 1, 2010. Belarus considered the step illegal and the Ministry of Justice filed a lawsuit in the CIS Economic Court on 25 March. At a recent meeting of October 8, EC CIS encouraged Russia to cancel duties on petroleum products to Belarus until January 19, 2011, when the court intends to make a final decision.

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