We didn't agree

The presidents of Russia and Belarus failed to reach an understanding on the issue of compensation for the tax reform being carried out by Moscow

“Some new economic nuances appear after the new year, so the Belarusian side believes that compensation is needed. The Russian side does not agree on everything,” said the press secretary of the Russian President Dmitry Peskov, commenting on the results of the summit of Presidents Vladimir Putin and Alexander Lukashenko, held on December 25.

According to him, Moscow and Minsk have yet to find solutions that would suit both sides, RBC reports .

“In order to prevent, let's say, some tangles of contradictions, the presidents agreed to hold a meeting. There is no exact date yet, ”Peskov summed up.

Russia is preparing to implement a “tax maneuver” in 2019-2024 — the gradual zeroing of the export duty on oil. Belarus' budget losses in 2019 are estimated at more than $300 million. And the total losses by 2024 could range from $8 billion to $12 billion. As compensation for losses, Russia offered Belarus an inter-budget transfer, but Belarus insists on "fixing this compensation in the price of oil received" . In addition, Minsk is outraged by the gas price set by Moscow.

The day before, following the results of the talks, the head of the Russian Ministry of Finance, Anton Siluanov, announced the creation of a working group to bring the positions of the two countries closer on the issue of tax maneuver in the Russian oil industry and gas pricing.