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Belarus to settle gas debt with Russia October 21

Belarus will transfer funds to repay the underpayment for Russian gas on October 21, said Minister of Energy of Belarus Vladimir Potupchik. To this day the amount is $281 million.

At the moment, the price of Russian gas for Belarus' gas suppliers is $132 per 1,000 m2. Belarus underpaid for Russian gas in 2016 considering the contract price unfair. Belarus argued that world prices for natural gas have decreased significantly with the fall of oil prices.

After long debates, which lasted from the beginning of 2016, Russia and Belarus have come to a compromise. It was voiced in mid-October.

The parties agreed on inter-budgetary compensation during gas supplies. Belarus will use the money to reduce gas prices for domestic consumers.

Belarus to settle gas debt with Russia October 21