Russia lifts restrictions on oil supplies to Belarus

Russia lifts restrictions on oil supplies to Belarus

Belarus considers agreements with Russia on gas and oil a compromise in the interests of the two countries.

On October 11, the Energy Ministry voiced a new formula of gas price calculations for Belarus.

It also confirmed that in the next 10 days Belarus will repay the previously underpaid money for blue fuel. Russia, in turn, introduces a mechanism for inter-budgetary compensation for the time when a common electric energy market is being created.

Vladimir Potupchik, Minister of Energy of the Republic of Belarus:
It is a solution that allows us to solve in an integrated manner all the problems that we had in the oil and gas sector. This protocol enables us to create by 1 July 2019 a common energy market, and by 1 January 2025 a common gas market.

With regard to oil, Belarus has reversed the decision to increase tariffs for its transportation via Belarus.

Russia has lifted all restrictions on the supply of oil to Belarus.