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Belarus loses $130 million due to Russian tax maneuver in Jan-May 2019

Svyatlana Huryna /

In an interview with Belneftekhim Herald, Deputy Chairm of Belneftekhim Svyatlana Huryna said that the Belarusian economy lost about $130 million in January-May 2019 due to the Russian tax maneuver. Russia' tax maneuver implies a gradual reduction of the export duty on oil and an increase in its production tax rate. Minsk has repeatedly stated its desire to get a compensation. Previously, our country could receive the export tax on oil products made from Russian oil and sold abroad. After the change, it became impossible. It means billions of US dollars in losses.