The Belarusian Council of Ministers issued resolution No 1816 on Monday, which reduces crude oil export duty with immediate effect from USD287.3 per tonne to the new level of USD192.1 per tonne.
The oil export duty has been revised downward following a similar reduction in the export oil duty in the Russian Federation also effective from December 1.
Belarusian export duties will be brought in line with the recent Russian move, which set duties on light oil products (light and middle distillates, liquefied gas, benzol, toluene and xylol) from USD205.9 per tonne to USD141.8 with immediate effect. Duties on heavy petroleum products (engine oil, processed oil products, mineral wax, oil coke, oil asphalt) will also receive a cut from USD110.9 per tonne to USD76.4 per tonne.
The move is in compliance with the intergovernmental Belarusian-Russian agreement stating export duties on oil and oil products in Belarus must be equal to the duties applied in Russia and must be introduced on the same date.
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