Belarus' 2020 Oil Prices to Rise by $17.7 Per Tonne Due to Russia's Tax Maneuver - Company
Oil prices for Belarusian refineries in 2020 will increase by $17.7 per tonne due to a Russian oil tax maneuver, the deputy chairwoman of Belarusian state oil concern Belneftekhim, Svetlana Gurina, said Tuesday
MINSK (Pakistan Point News / Sputnik - 29th October, 2019) Oil prices for Belarusian refineries in 2020 will increase by $17.7 per tonne due to a Russian oil tax maneuver, the deputy chairwoman of Belarusian state oil concern Belneftekhim, Svetlana Gurina, said Tuesday.
"The next year will be the next stage of Russia's tax maneuver, the forecast is calculated given the price of $60 per barrel. If this figure does not change, the price of oil for Belarusian refineries will grow by another $17.7 Dollars per tonne," Gurina told the Belarus Segodnya newspaper in an interview.
Gurina stressed that this increase in prices was one of the gravest risks for the competitiveness of Belarusian producers.
Earlier in October, Belarusian Finance Minister Maksim Yermolovich said that the country would lose around $400 million in 2020 due to Russia's tax maneuver.
In 2019-2024, Russia is planning to complete its so-called tax maneuver, which envisages the gradual lifting of the export duty on oil and an increase in severance tax. According to Minsk, the maneuver may cost Belarus around $11 billion over the whole period.