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Belarus is seeking additional revenues due to reduced proceeds from export duties

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April 22, 2016 19:36

In 2016, the Finance Ministry expects to raise USD 1.1 billion from duties on exports of petroleum products. Earlier it was estimated that the annual proceeds will be at least USD 1.5 billion. Due to lower proceeds from oil duties, Belarus may step up export schemes to sell petrochemical products produced from Russian oil and increase imports of gasoline and diesel fuel from Russia. Belarus may use any restrictions on fuel supply from Russia to Ukraine to gain additional revenues. Belarus is unlikely to resume large-scale export schemes of bituminous mixtures and solvents, but Russia will not seriously object if such schemes are implemented in reasonable amounts (USD 100-200 million per year).

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