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Belarus to raise tariff on transit of Russian oil by over 6% as from 1 February

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MINSK, 29 January (BelTA) – The tariff on services of oil transportation via the oil pipelines located in Belarus will be raised by 6.6% as from 1 February. The tariff will be increased in line with resolution No.6 released by the Belarusian Antimonopoly Regulation and Trade Ministry on 22 January 2021, BelTA learned from the ministry’s press service.

Oil that is transported via the Belarusian oil pipelines is bound for Belarus and abroad. “In 2020, oil transit was substantially lower than projected, which reduced the revenues of the Gomeltransneft Druzhba network operator. Its financial and economic performance was also affected by the introduction of the environmental tax and higher taxes on revenues of pipeline transportation companies,” the press service said.

In August 2020, Gomeltransneft Druzhba proposed an unscheduled revision of the tariff, but the Russian party did not support that idea. After that, the Belarusian company suggested raising the tariff on oil transit by 24.5% in 2021 to compensate for its losses in 2020.

Revision of oil transit tariffs should be harmonized by the pipeline transportation companies of Belarus and Russia. If they do not reach an agreement, the matter should be harmonized by the Belarusian Antimonopoly Regulation and Trade Ministry and the Russian Federal Antimonopoly Service. If these agencies also fail to agree on this matter, the tariffs are set in line with the guidelines for oil transportation tariffs.

“As the Russian party is not willing to compensate for Gomeltransneft Druzhba’s losses in revenues, no agreement on tariff increases has been reached both by the companies and at also the government agencies,” the ministry noted. As a result, the tariff was revised upwards in line with the guidelines: the average annual consumer price index set by the Russian social and economic development forecast for 2021 is up by no more than three percentage points.

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