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Since the establishment of CIS, the structure of Russia’s foreign trade turnover with the said countries has not experienced any changes: over 60% of its exports fall on the supplies of energy resources, while food stuffs make up almost one - fourth of Russia’s import supplies from the CIS states.

During the first half 1999, the physical volume of oil supplies grew by 11.8% compared with the prior year, however, the oil export fell by 44.6% in its value equivalent. That can be attributed to the fall in the world oil prices which had been lasting yet for the Ist quarter this year; in addition that was caused by the falling value of the Russian exports which had resulted from the drop in the Rb. rate used in supplies under intergovernmental contracts. Even the increase of oil export duties in September this year will unlikely lead to a significant growth in the Russian export’s value, since the Russian supplies to the members of the Customs Union are exempt from the duties, and it is Belarus and Kasakhstan which are major Russia’ trade partners.

In September, there was the sixth anniversary of the signing of the Agreement on establishment of the Economic Union of the CIS countries. Unfortunately during that period of time the Commonwealth members have failed to implement both the concept of multilateral free trade zone, valid Customs Union, and the single economic space. Still the foreign trade is performed either on the basis of bilateral intergovernmental agreements, or by single enterprises’ production ties. In the conditions of the crisis economy, such ties gradually loose their efficiency, and therefore the volume of mutual supplies is contracting.

Regulation of foreign trade.

Since 16 September, Russia has introduced new regulation of importation of passenger cars by physical persons. The vehicles are subject to the unified customs duty computed proceeding from the volume of the car’s engine: the cars more than three years old with the engine’s volume under 2.5 Thos. cubic cm. are eligible to the customs payment amounted to 0.85 Euro/ 1 cubic cm. of the engine’s volume, regardless of the previous mileage. Should the engine’s volume exceed 2.5 Thos. cubic cm., the customs duty rate will be Euro 1.4.

Previously,, the foreign vehicles, regardless of their age, were subject to imposition of the aggregate customs payment equivalent to the amounts of the duty, excise, VAT and some other taxes. In compliance with the new regulations, the whole set of customs duties and payments will be charged only from new vehicles.

The Government Resolution of 10 September 1999 # 1036 On Approval of the Rate of the Export Customs Duty for Crude Oil and Crude Petroleum Derivatives exported from the territory of RF to beyond the Territories of the Countries- Participants in the Customs Union increases the rate of the export customs duty for crude oil and petroleum derivatives 1.5 times. Since September 23, the duty makes up Euro 7.5.

On September 20, the Government issued its Resolution # 1053 regarding introduction of export duties on petrol, diesel fuel, and black oil. The duty rate for high-octane petrol is Euro 20/t., low- octane petrol- Euro 10/t, and black oil- Euro 12/t.

N. Volovik, N. Leonova

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