MINSK, 12 November (BelTA) – Belarusian Finance Minister Maksim Yermolovich talked to reporters on 12 November to discuss how negotiations proceed on the size of the compensations the Belarusian economy is entitled to due to changes in the taxation of the Russian oil industry, BelTA has learned.
All the interested parties are taking part in the negotiations. “Experts are working on their own. It is necessary to address a lot of technical issues. There are also fundamental matters. All of it needs to be discussed,” said the finance minister.
The official remarked that Belarus and Russia are comparing notes. “We are comparing notes, clarifying the view of our colleagues on the matter. We understand peculiarities of the process,” added the finance minister. As for when Belarus and Russia may come to terms on the compensation mechanism, it is a complicated matter, Maksim Yermolovich said.
BelTA reported earlier that Belarus and Russia intend to reach an agreement on the size of the compensations by the end of the year. After the taxation of the Russian oil industry is revised, Russian oil companies will get subsidies from the state budget as compensation. Belarus has no such scheme in place. The sides are now in negotiations on unifying approaches to the problem.
