Belarusian budget to get all export duties from petroleum products sold in 2015

Russia and Belarus have agreed that all export duties on petroleum products that Belarus sells to other countries in 2015 will be entered into the Belarusian budget, Deputy Russian Prime Minister Arkady Dvorkovich told reporters.

Russia and Belarus have agreed that all export duties on petroleum products that Belarus sells to other countries in 2015 will be entered into the Belarusian budget, Deputy Russian Prime Minister Arkady Dvorkovich told reporters.

He said Russia and Belarus had previously agreed that the Belarusian budget would receive $1.5 billion from petroleum product export duties in 2015, while the Russian budget would receive anything above this amount. "Now everything [will go to the Belarusian budget]. The amount it will be is unclear because this depends on prices," Dvorkovich said.

It was agreed that Russia would ship 23 million tonnes of oil to Belarus in 2015, he said, adding that this amount was not changing.

As reported, oil shipments to Belarus in 2016-2024 are planned to total 24 million tonnes per year with possible adjustments.

It was also reported that the two countries were planning to begin discussing increasing the size of transfers to the Belarusian budget from petroleum product export duties starting in 2016.

Read more: Record fall in oil prices threatens Russian budget>>>

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