Belarus to reset duty rates on export of oil and petroleum products to zero from 2024

Belarus will reset export duty rates on crude oil and petroleum products to zero from January 1, 2024, reads the corresponding resolution of the Council of Ministers of the Republic, Report informs referring to TASS.

At the beginning of November 2023, Belarusian Finance Minister Yury Seliverstov announced that by the end of the year Minsk plans to receive a total of 1.3 billion rubles from Moscow as compensation for the tax maneuver.

Earlier, presenting the draft budget for 2024 in the country’s parliament, Seliverstov informed that Belarus plans to receive compensation from the Russian Federation to oil producers in the amount of 2.1 billion rubles next year.