Belarus to Raise Russian Oil Transit Tariff

Starting on February 1, 2011, Belarus will raise its tariffs for the transit of Russian oil via its territory by 12.5 percent. This decision has been coordinated with the Russian side, Belarusian Ministry of Economy said.

Moscow and Minsk annually agree on the prices for oil transit and hydrocarbon export duties, The Voice of Russia reported on January 10.

In compliance with an agreement reached in late 2010, Russia will supply oil duty-free to Belarus, while duties on oil products will be charged on external borders and transferred to the Russian budget.

Source: Onlinenews.ge