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    Belarus Pays Off $726 Mln Gas Debt to Russia's Gazprom

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    Russia said Thursday that Belarus had fully repaid its debt to the Russian state energy giant Gazprom company in the amount of $726.2 million for Russian gas supplies in 2016-2017.

    MOSCOW (Sputnik) — Russia's energy giant Gazprom said Thursday that Belarus had fully repaid its debt to the company in the amount of $726.2 million for Russian gas supplies in 2016-2017.

    "The Belarusian side repaid in full, in the amount of $ 726.2 million, its debt to Gazprom for the supply of Russian gas in 2016-2017," Gazprom said in a statement.

    The most recent Russian-Belarusian energy dispute escalated in 2016 after Minsk called Russian gas prices unfair and unilaterally reduced them. By late 2016, 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. Monday's meeting fully resolved the dispute, with Russia agreeing to refinance Belarusian debt. Details of the settlement were not disclosed.

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    dispute, gas debt, Gazprom, Belarus, Russia
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