By Elena Fehrbach
Aug. 1 – Starting from August Russia increases petroleum products export tax by 2.9 percent. Before August Mongolia has been paying from 323.4 to 332.2 USD per tonne of oil with increase to 341.8 USD per tonne since August. The tax has been raised in accordance with Russia’s “60-66-90” tax regulation on export of petroleum products.
Petroleum products are the major Mongolia’s import component by value and volume. About 90 percent of diesel and 57 percent of gasoline are imported from Russia. Belorussia is the second largest importer of petroleum products with 5 percent share in diesel import and 30 percent share of gasoline import. Petroleum products are also imported from South Korea, but the volume is marginally small compare to the major importers.