Belarus to increase oil export duty on August 1

The Belarusian government has decided to increase the oil export duty to match the Russian one starting from August 1, 2007.
The rate will be 224 USD per ton, 163 USD for light oil and 88 USD for black oil. It coincides with the rates that Russia is going to introduce on August 1. Let us remind you that Belarus has to introduce new export duties together with Russia. The condition was confirmed by an intergovernmental agreement on January 12, 2007.