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Belarus Seeks Alternatives to Russian Oil as Taxes Bite: SB

Oct. 29, 2019, 7:25 AM

Belarus is considering importing oil shipments from CIS countries, Near East, Africa through ports in Ukraine, Baltic countries, Belneftekhim deputy chairman Svetlana Gurina says in an interview with state-owned daily newspaper SB.

  • Oil imports from countries other than Russia become increasingly attractive as Russian crude imports for Belarus become more expensive due to Russian tax changes.
  • As result of Russia’s tax changes, Belarusian refineries now pay close to 80% of international oil price for Russian crude, compared to ~50% in 2014.
  • Belarus lost ~$250m from Russian tax changes in Jan.-Sept.
  • Belarusian refineries will get 18m tons of Russian crude this ...