The law provides for the ratification of the Protocol on Amendments to the Agreement between the Government of the Russian Federation and the Government of the Republic of Belarus on Measures to Regulate Trade and Economic Cooperation in the Export of Oil and Oil Products of January 12, 2007, signed in Moscow on January 27, 2010. The Protocol contains rules that differ from Russian Federation legislation and therefore must go through a ratification procedure.
Under the Protocol, Belarus can import duty-free Russian oil in the volume sufficient to cover its annual domestic consumption, which volume shall be determined by competent authorities of the two countries. Export duties for oil supplied above this volume will be determined based on the rates set in accordance with Russian Federation laws.
The Protocol also sets out the methods and procedures for setting and adjusting rates for oil transportation (transit) through main oil pipelines running across the Belarusian territory, and contemplates execution by the customs authorities of both countries of an agreement by March 1, 2010, on exchange of information on oil exports from the Republic of Belarus to other countries.