Kazakhstan approves counterdelivery of oil to Russia in exchange for oil products imports
Edited by Rhod Mackenzie / 2014-03-05 04:47:48
The Kazakh government has approved counterdelivery of oil to Russia in exchange for oil products supply in 2014, the Cabinet of Ministers’ decree reports.
As it was reported earlier, this scheme implies that Kazakhstan supplies oil to Russia in exchange for oil products, then exports it and export duty covers losses of the Russian budget from duty-free supplies of oil products. According to Russian mass media, in 2014 lost incomes of the Russian budget from cancellation of oil counterdelivery will make up $600-700 million.
