Updated at 18:21,18-06-2018

Belarus-Russia oil duty talks on hold


Scheduled for early 2015, the talks cannot be held due to 'unclear' state of the world oil market.

Talks between Russia and Belarus on oil export duty for 2016 may not take place. They were planned for the beginning of this year, but the global oil market is in "unclear" state, said Deputy Finance Minister Dzmitry Kiyko. According to him, there is no way to predict its consequences for the countries.

Therefore, the negotiations are likely to be postponed. Kiyko believes that they can be held in the first half of 2015. Deputy Minister stressed that Belarus' position remains the same - all export duties on petroleum products produced from Russian oil should be credited to the budget of our country, BELTA reports.

It was and remains a sensitive issue for Belarus, as it was necessary to transfer to Russia billions of dollars. During the signing of the agreement on the establishment of the Eurasian Economic Union, it was agreed that each year export customs duties in the amount of $1.5 billion will be transfered to the Belarusian budget. This year they will get into the budget in full due to the implementation of Russia's so-called "tax maneuver" in the oil industry.