TeachMeFinance.com - explain Bonded petroleum imports
Bonded petroleum imports The term 'Bonded petroleum imports' as it applies to the area of energy can be defined as ' Petroleum imported and entered into Customs bonded storage. These imports are not included in the import statistics until they are (1) withdrawn from storage free of duty for use as fuel for vessels and aircraft engaged in international trade; or (2) withdrawn from storage with duty paid for domestic use'.
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