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Oil and gas disagreement between Belarus and Russia: Negotiations and new way of calculating gas prices

Belarus and Russia made a compromise in the argument about oil and gas prices.

Parties managed to agree on a mutually beneficial supply and transit of oil and a new mechanism for calculating the gas price. As the Ministry of Energy confirmed, in the coming days they will compensate for the gas that was received but wasn’t paid in full. Russia introduces the mechanism of the so-called inter-budgetary compensation.

As for oil, Russia lifted all restrictions on the supply of oil in our country and starting from October 20, Belarusian refineries will be receiving the same volume of oil.

Oil and gas disagreement between Belarus and Russia: Negotiations and new way of calculating gas prices