Starting from October Russian Oil Price for Belarus to Be Reduced by $41.4

Starting from October 1st 2008 oil export duty laid by the Russian government will form $372.2 per ton. A corresponding governmental regulation of September 19th 2008 has been published today. At present oil export duty in Russia makes up $495.9 per ton.

Starting from October 1^st 2008 oil export duty laid by the Russian government will form $372.2 per ton. A corresponding governmental regulation of September 19^th 2008 has been published today. At present oil export duty in Russia makes up $495.9 per ton.

From October 1^st export duty on light oil will be reduced from $ 346.4 to $263.1 per ton and on dark-oil products – from $186.6 to $141.7 per ton.

Originally, according to two-month monitoring of the Ministry of Finance, it was expected that oil export duty would make $ 485.8, export duty on light oil – $339.7 while on dark-oil products – $183. However, in view of the slump in quotations on world and Russian stock and raw material markets, the government has made a decision to calculate the duties on the basis of an average oil price for the last 17 days.

Starting from October Russian oil price for Belarus will make up $ 124.7 which is $41.4 less than the established price.

According to Belarusian-Russian agreements, in 2008 the duty on Russian oil which is supplied to Belarus is calculated taking into account the factor 0.335 of Russian duty.

Similar customs duties will be also valid when oil products are exported from Belarus to third countries.