by Staff Reporter
May 31, 2013 (TSR) – Belarus welcomes Russia’s decision to waive duties on its oil exports to Belarus, TSR reports quoting BelTA.
According to Mikhail Myasnikovich, the approach to these issues should be well-thought out.
“If we are to enhance cooperation, create transnational corporations, we need to develop the common market and skillfully formulate trade and investment policies,” Prime Minister Mikhail Myasnikovich said on Friday at a press conference in Minsk.
According to the prime minister, Russia is ready to waive the duties even though it will affect its budget revenues.
“A historic decision was taken to establish a Eurasian Economic Union by 2015,” in Astana, capital of Kazakhstan, which will give a new dynamic to an integrative cooperation, he said.
Belarus has been importing Russian oil since 2011 without paying duties but has to transfer the export duties to Russia for oil products shipped to a third country.
In 2012, Russia received 3.8 billion U.S. dollars in Belarus’ export duties on oil products shipped to a third country. In 2011, the sum was 3.07 billion U.S. dollars.
Export duties on Belarusian oil products, which are made out of Russian oil and are exported beyond borders of the Customs Union, may be lifted as from 2015. The conclusion results from the statement made by Deputy Economy Minister of Belarus Anton Kudasov on 31 May, BelTA has learned.
Explaining reports saying that Russia is ready to scrap all the provisos and restrictions in oil and gas matters as from 2015, Anton Kudasov remarked: “I am referring to the readiness of the Russian side to remove all the provisos of tariff and non-tariff nature from the mutual trade”.
The present situation around mutual relations involving oil is the following. Although Belarus receives Russian crude oil without export customs duties, Belarusian oil products, which are exported beyond borders of the Customs Union, suffer export customs duties in line with Russian regulations. Meanwhile, the Russian-size export duties applied to Belarusian oil product exports are fully transferred to the state budget of Russia.
“These are the customs provisos that exist in Belarus-Russia relations now. Apparently it is the debated issue,” concluded the Deputy Economy Minister.
