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9 Oct 2014

Minsk to host Union State High Level Group meeting

MINSK, 9 October (BelTA) – A meeting of the High Level Group under the Union State Council of Ministers will take place in Minsk on 9 October, BelTA has learned.

Attending the event will be Chairman of the Board of the Development Bank of the Republic of Belarus Sergei Rumas, First Deputy Chairman of the Russian Government Igor Shuvalov, State Secretary of the Union State Grigory Rapota, heads of ministries and agencies of the two countries.

The meeting participants are expected to discuss more than 20 issues related to the Belarusian-Russian cooperation and the Union State development. The agenda will include the aftereffect of the tax maneuver in the Russian oil industry for the economies of Russia and Belarus. Russia’s move envisages higher taxes on mining operations and increased duties on dark-oil products with the simultaneous reduction of duties for oil and light oil products starting from 2015.

The High Level Group will talk over mutual steps to prevent sanctioned goods from entering the Russian Federation.

As was informed, during the talks in Sochi on 7 October Belarus and Russia have come to terms regarding the procedure for transferring customs duties on Belarus-made oil products taking into account previous arrangements and the calculated losses Belarus’ budget will incur due to Russia’s tax adjustments in the oil industry. Thus, in 2015 Belarus will keep all export duties on oil products produced within the country and exported outside the Customs Union.

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