23:37 GMT +316 July 2019
Listen Live
    State colors of Russia and Belarus. (File)

    Russian Gov't Approves Documents on Russia-Belarus Oil, Gas Dispute Settlement

    © Sputnik / Andrei Aleksandrov
    Business
    Get short URL
    0 43

    The package of documents on the settlement of the oil and gas dispute between Russia and Belarus has been approved by the Russian government, a cabinet spokesman told journalists Thursday.

    GORKI (Sputnik) — Last week, Russian President Vladimir Putin said after the negotiations with his Belarusian counterpart Alexander Lukashenko that the two leaders had agreed to settle all the existing disputes in the oil-and-gas sector. Later in the day, Russian Energy Minister Alexander Novak said that Russia would resume regular oil supplies to Belarus.

    "All three documents have been approved," he said.

    The most recent dispute escalated in 2016 after Minsk called Russian gas prices unfair and unilaterally reduced them. By the 2016 fall, Belarus owed $270-300 million for Russian gas. Minsk refused to acknowledge the debt, with Russia reducing its duty-free oil exports to Belarus saying it was due to inadequate gas payments and insufficient petroleum products’ shipments to Russia. Belarusian authorities had also increased rates on the transit of Russian oil via the country's territory.

    In March, the Russian and Belarusian prime ministers discussed the dispute. However, according to Novak, Minsk refused to repay its $700-million debt without receiving substantial preferences.

    Related:

    Russia-Belarus Gas Dispute Receded Back Amid St. Pete Metro Blast - Lukashenko
    Russia to Increase Oil Supplies to Belarus When Minsk Repays Gas Balance
    Belarus to Get $500Mln in Surplus Revenue in 2017 Under New Deal With Russia
    Tags:
    gas, oil, Belarus, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik