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Minsk and Moscow to start working on compensation for Russian oil industry taxation changes in November

15 October 2018 , 00:04Neftegaz.RU373

In November 2018 Belarus and Russia will start negotiations on how much compensation the Belarusian economy should get due to Russian oil industry taxation changes, Belarusian BelTa learned from Deputy Prime Minister of Belarus Igor Lyashenko on 12 October.


The 1st round of meetings to discuss the taxation changes at the level of deputy prime ministers will begin as from 1 November. “Working groups will discuss the matters before that,” said Igor Lyashenko.


The official went on saying that once the tax changes in Russia are completed and Belarus will have to take Russian oil without compensations, Belarus may consider buying oil from other countries.

“In line with the existing scheme we buy Russian oil at a certain discount. It is good for the state budget and good for Belarusian companies,” said the deputy prime minister.


BelTA reported earlier that Belarus and Russia are supposed to decide on the size of the compensation by the end of the year. Igor Lyashenko was quoted as saying that Russia understands that such compensations are unavoidable.

The size of the compensations and how the compensations should be provided will be decided later on. As part of the work to finalize the taxation changes, Russian oil companies will be entitled to budget subsidies.


There is no such mechanism in Belarus for now. Negotiations will be held to discuss ways to unify these approaches.



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