Belarus and Russia settle oil and gas supply issues

Belarus and Russia settle oil and gas supply issues

Belarus and Russia have settled a problematic issue in the sphere of energy supply. The President of Belarus was briefed on how the oil and gas dispute is being resolved.

The cost of gas will be substantially reduced.

Currently the sides are signing a working protocol, and in the near future plan to legally register the agreements.

Alexander Lukashenko, President of Belarus:
I understand that another battle is over and we managed to sign a corresponding document. And problematic issues, at least as of yesterday, were agreed and withdrawn. Once again, I specially invited professionals involved in the negotiations, to once again see and understand the essence, the nuances of the document we have agreed. And, most importantly, do yesterday's agreements exclude such conflicts with the Russian Federation in the future? Because it's first of all economically unfeasible (we lose money), but what is the most important: we just can't have such problematic relations with Russia.
And one more question. The long-term effect is obvious, at least judging by the government's report. What do we lose? Once again I want to emphasize that we do not require anything extra. We should not demand from the Russian Federation. We demand that our business entities and our people be on an equal footing in the union of Belarus and Russia.  This will be a major issue in my future talks with President Putin. I'm not going to touch on any accounting issues. This will be the main thing, because, as you offer me, the long-term effect will be until 2019, but it will take time and business entities will still be at a disadvantage. Am I right, Vladimir Ilyich? Therefore, I would like to know whether we will endure it or not. I emphasize again: we need to agree with Russia on equal terms. Somewhere we will budge since the interest of Russia to Belarus is huge. Somewhere they should also move. But if we see our future in a single whole, we have to go for it, insist on it.

Under the agreement, Russia will restore the previous volumes of oil supplies.

Belarus should have received 6 million tons, but half of the supply has been blocked in the third quarter. Oil will be delivered to Belarusian oil refineries to secure their full load by 20 October. Belarus has also reversed the decision to raise tariffs for the transit of hydrocarbons.