Updated at 11:56,07-12-2016

Belarus to Gain $73.5 Million Because of Oil Duty Decrease

The sum will be gained if the 1.7 million tons of tollable oil is multiplied by the difference between the duty introduced at the beginning of 2010 and the lower tariff introduced on July 1.

According to experts, Belarus was planning to receive about 8 million tons of oil from Russia. Moscow agreed to sell 6.3 of them to Belarus without any duties. 1.7 (an approximate estimate of Belarus domestic extraction) was supposed to be delivered to our country with the export duty of 292 dollars.

Thus, Belarus economic benefit from the decrease of Russian export duties will total about 73 million 440 thousand dollars. The sum will be gained if the 1.7 million tons of tollable oil is multiplied by the difference between the duty introduced at the beginning of 2010 and the lower tariff of 43.2 dollars introduced on July 1.

Let us remind you that Russia has lowered oil export duties for Belarus to 248.8 dollars for a ton today, on July 1. They used to total 292 dollars for a ton.