Anti-crisis canister: The EEC has reset import duty rates for fuel
The Council of the Eurasian Economic Commission has reset import duty rates for certain types of fuels. They will remain at this level until June 30, 2026. Experts note that the EEC's decision is a necessary measure aimed at stabilizing the market. Zeroing duties will create an economic incentive for imports, allowing them to quickly saturate the market and restrain further price increases, acting as an anti-crisis management tool. Whether the adopted measure will help to reduce fuel prices is in the Izvestia article.
Divide by zero
The Council of the Eurasian Economic Commission has decided to reset the rates of import customs duties on motor gasoline, jet fuel, diesel fuel, marine fuel and other gas oils. The measure will be valid until June 30, 2026 inclusive. This is stated in the message of the Council.
"The decision was made to ensure a balance in the domestic motor fuel market due to a local decrease in production volumes amid a seasonal increase in demand," explained Andrei Slepnev, Minister for Trade of the EEC.
The decision will enter into force 10 calendar days after its official publication.
Gasoline up to AI-80, from AI-81 to AI-90, from AI-92 to AI-95, from AI-95 to AI-98, from AI-98 and above will be subject to zero duties. In addition, the list includes jet fuel, summer, winter, Arctic, off-season and other diesel fuels, as well as marine fuel.
Today, the import duty rate for all these fuels is 5%.
The editorial board of Izvestia sent a request to the Ministry of Energy of the Russian Federation. No response has been received at the time of publication.
The path to stabilization
The decision of the EEC Council is a necessary measure aimed at stabilizing the market, says Vladimir Demidov, an independent expert on the fuel market. The EAEU countries, primarily Russia and Belarus, are facing gasoline shortages and rising prices. The main reasons for this are the increase in domestic demand and scheduled repairs of refineries.
"Zeroing duties will create an economic incentive for imports, allowing them to quickly saturate the market and restrain further price increases, acting as an anti—crisis regulatory tool," the Izvestia source explains.
The measure adopted by the EEC may facilitate the supply of fuel from other jurisdictions in order to fill the market with additional volumes and normalize the price situation, agrees Sergey Pikin, Director of the Energy Development Fund. Today, fuel prices are at historically high levels, and even an export ban is not helping to reduce them.
— Russia is now trying to use all methods to stabilize the situation on the fuel market. In the current situation in the domestic market, additional volumes of gasoline are needed," the expert draws attention to.
Zeroing duties will also help to increase the competitiveness of domestic manufacturers' products, since their cost will not increase due to a significant increase in fuel prices, expects Yuri Lyandau, Doctor of Economics, Professor at Plekhanov Russian University of Economics.
"For consumers, this means access to more fuel at competitive prices," he notes.
The zeroing of customs duties on fuel imports into the EAEU can be considered a timely measure, Investment adviser to the registry of the Central Bank, President of the Association of Investment Advisers Yulia Kuznetsova is convinced. For the Union states, it is a tool to reduce pressure on inflation, she said.
"The new duties create more competitive conditions for external suppliers, and it is likely that in the near future we will see an increase in import volumes for the most in—demand items — motor gasoline and diesel," the editorial interlocutor does not exclude.
Supply diversification
The bulk of fuel imports within the EAEU traditionally accounted for mutual supplies, Vladimir Demidov recalls. They are mainly conducted from Russia to Kazakhstan, Kyrgyzstan and Belarus.
— However, in the context of domestic shortages in Russia, this model has failed. In 2023, Kazakhstan, for example, was forced to increase imports from Turkmenistan and Azerbaijan, the expert clarifies.
The main supplies to Russia came from Belarus, Sergei Pikin notes. The zeroing of duties may allow fuel to be received from other countries.
"The question is at what price the supplies will be carried out and how acceptable they will be,— the Izvestia source points out.
The import of fuel into the EAEU, taking into account the new norm, can be carried out from countries outside the union, admits Yulia Kuznetsova. The measure will lead to a significant increase in imports of motor fuels from other countries, Demidov agrees. Reducing the cost of imported fuel by eliminating the duty will make import supplies profitable.
— This will revitalize the market and increase competition, which is a deterrent to further retail price growth. For example, supplies from refineries in Turkey, Azerbaijan and the Middle East, which were previously less competitive due to the customs barrier, are expected to increase, the expert predicts.
Saudi Arabia, the United Arab Emirates and India, which have significant refining capacities, may become key external suppliers, he expects.
It is important to emphasize that the measure applies exclusively to imports, adds Kuznetsova. Export duties and restrictions remain within the competence of national regulators and do not change in connection with the decision of the EEC, she explains. In other words, we are talking about increasing the availability of fuel in the domestic market of the Union countries, and not about stimulating exports.
"By the end of June 2026, businesses in the EAEU will receive an additional window of opportunity: cheaper imports will help smooth out shortages and price peaks, and states will be able to use this measure as a temporary buffer to keep domestic markets stable," the Izvestia interlocutor believes.
However, it should be borne in mind that the zeroing of duties may affect local producers, who will have to compete with cheaper foreign products, warns Yuri Lyandau.
"It is necessary to carefully monitor the balance between imports and support for local producers in order to avoid excessive dependence on external suppliers," the economist urges.
Thus, the decision to reset customs duties on fuel imports is a complex measure that has both positive and negative sides, the expert believes.
"It requires a thorough analysis of possible risks and long—term consequences," concludes Lyandau, stressing that the priority should remain to support domestic producers, which will ensure the stability and independence of the national economy.
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