Belarus to cut oil export duties 1 September

MINSK (BelTA) – Belarus will reduce export duties on oil and oil products exported outside the customs territory of the Eurasian Economic Union on 1 September 2016. The decision is contained in Council of Ministers' executive order No.689 of 30 August 2016, the press service of the Belarusian government told BelTA.

The export duty on crude oil will go down from $90.1 to $80 per tonne. The duty on straight-run gasoline will be reduced from $63.9 per tonne to $56.8 per tonne, with the export duty on commercial gasoline down from $54.9 to $48.8 per tonne.

The export duty on light and medium distillates will be $32 per tonne, down from $36. The same rate will be applied to diesel fuel, benzene, toluene, xylene, lubricants, and other oils.

The export duties on crude oil and some categories of derivative oil products were previously revised on 1 August.