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2 Mar 2020

Kazakhstan ready to sell oil to Belarus, wants export duty paid

Kazakhstan ready to sell oil to Belarus, wants export duty paid
An archive photo

MINSK, 2 March (BelTA) – Kazakhstan is ready to sell oil to Belarus provided the export duty is paid, BelTA learned from Deputy Minister of Trade and Integration of Kazakhstan Kairat Torebayev on 2 March.

The official said: “Our country uses a customs duty for oil export. It stands at $60 per tonne of crude oil and about $30 [per tonne of] the refined product.”

“If our countries sign an agreement, Belarus will have to use this export duty in order to avoid oil leakage from Kazakhstan to the European Union via Belarus. We have to safeguard our market by preventing re-export. We estimate that without this mechanism our losses will be about $200 million if Belarus’ demand for oil is 3.5 million tonnes as we’ve been told,” the official said.

In his opinion, Belarus and Kazakhstan should sign the oil supply agreement because it would benefit both countries. “We hope that Belarusian colleagues will be able to correctly manage the matter and guarantee no re-export, guarantee that the products Belarusian oil refineries will make will be consumed inside the country,” Kairat Torebayev stressed. “We expect guarantees. A broad spectrum of possible solutions is available for it, for instance, it is possible to carry out a balance analysis and an analysis of who and where will consume the oil products.”

The official also said that negotiations are in progress now, the oil supply agreement will be signed as soon as the Belarusian side comes up with a guarantee mechanism.

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