Belarus govt relaxes regulatory requirements for importers of Russian oil products
<p> MINSK, Dec 24 - PrimePress. The government of Belarus has softened the regulatory requirements for the Belarusian importers of Russian oil products by reducing the limit of the mandatory execution of the agreed indicative balances from 80% to 65%. This is enshrined in government resolution No. 754 of December 23, 2020, published on the National Legal Internet Portal on December 24. </p> <p> </p> <p> Indicative balances for the import of Russian petroleum products, classified by FEACN codes 2710-2715 (including gasoline, diesel fuel, fuel oil), as well as group 29 (benzene, toluene, xylene), are formed by Belneftekhim Concern and the Belarusian Ministry of Economy based on applications of interested importers and in accordance with the regulation on cooperation between government agencies and other organizations in the preparation of documents to ensure the export of petroleum products from Russia. </p> <p> </p> <p> According to the resolution, Belarusian importers will retain the right to purchase petroleum products in Russia next year, if they choose not less than 65% of the application volume, included in the indicative balance agreed with the Russian side, within nine months of this year. Previously, a Belarusian importer (consumer) of Russian oil products had to use up at least 80% of the stated annual requirement, otherwise the right to import oil products from Russia for the next calendar year would be annulled. </p> <p> </p> <p> The resolution comes into force after its official publication. </p> <p> </p> <p> As previously reported, since October 2018, Russia has been effectively applying quotas on duty-free supplies of Russian oil products to Belarus until 2024, with the indicative balance of such supplies targeting consumers in areas bordering Russia set at 200,000 tonnes per year. This decision was motivated by unauthorized re-exports and the fact that Belarus directed some Russian oil products to the domestic market, while exporting most of the oil products produced from duty-free Russian oil. As a result, according to estimates by the Russian Finance Ministry, the Russian budget lost at least $150 million in export duties per year. </p> <p> </p> <p> In 2019, Belarus reduced supplies of oil products from the Russian Federation 9.7 times to 77,900 tonnes, and in value terms 9.5 times to $51.13 million. End </p> <p> </p>
2020-12-25
Primepress
MINSK, Dec 24 - PrimePress. The government of Belarus has softened the regulatory requirements for the Belarusian importers of Russian oil products by reducing the limit of the mandatory execution of the agreed indicative balances from 80% to 65%. This is enshrined in government resolution No. 754 of December 23, 2020, published on the National Legal Internet Portal on December 24.
Indicative balances for the import of Russian petroleum products, classified by FEACN codes 2710-2715 (including gasoline, diesel fuel, fuel oil), as well as group 29 (benzene, toluene, xylene), are formed by Belneftekhim Concern and the Belarusian Ministry of Economy based on applications of interested importers and in accordance with the regulation on cooperation between government agencies and other organizations in the preparation of documents to ensure the export of petroleum products from Russia.
According to the resolution, Belarusian importers will retain the right to purchase petroleum products in Russia next year, if they choose not less than 65% of the application volume, included in the indicative balance agreed with the Russian side, within nine months of this year. Previously, a Belarusian importer (consumer) of Russian oil products had to use up at least 80% of the stated annual requirement, otherwise the right to import oil products from Russia for the next calendar year would be annulled.
The resolution comes into force after its official publication.
As previously reported, since October 2018, Russia has been effectively applying quotas on duty-free supplies of Russian oil products to Belarus until 2024, with the indicative balance of such supplies targeting consumers in areas bordering Russia set at 200,000 tonnes per year. This decision was motivated by unauthorized re-exports and the fact that Belarus directed some Russian oil products to the domestic market, while exporting most of the oil products produced from duty-free Russian oil. As a result, according to estimates by the Russian Finance Ministry, the Russian budget lost at least $150 million in export duties per year.
In 2019, Belarus reduced supplies of oil products from the Russian Federation 9.7 times to 77,900 tonnes, and in value terms 9.5 times to $51.13 million. End