Belarus is Br1.5bn short due to oil haggle with Russia – Lukashenko
<p> MINSK, Aug 4 - PrimePress. Belarus has lost Br1.5 billion ($612.9 million at the rate of the National Bank of Belarus) due to disagreements with Russia on oil supplies, President of Belarus Alexander Lukashenko said in his annual address to the nation and the parliament on August 4. </p> <p> </p> <p> “Our budget is 1.5 billion rubles short due to the oil squabbles with Russia,” he said. </p> <p> </p> <p> Belarus and Russia had been failing to agree on the oil supply terms that would suit both parties for quite a while early this year. Belarus’ refineries (Mozyr Oil Refinery OJSC, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) had to only utilize a part of their capacities due to supply cuts. </p> <p> </p> <p> According to the National Statistics Committee of Belarus (Belstat), Belarus’ oil product export dropped in January-May 2020 by 53.6% year on year. Losses were estimated at $1.412 billion in monetary terms. Fiscal revenues from foreign trade were down 30%. The state budget was reportedly Br719 million ($230 million) short in terms of export duties on oil products and potash fertilizers against January-May 2019. End </p>
2020-08-05
Primepress
MINSK, Aug 4 - PrimePress. Belarus has lost Br1.5 billion ($612.9 million at the rate of the National Bank of Belarus) due to disagreements with Russia on oil supplies, President of Belarus Alexander Lukashenko said in his annual address to the nation and the parliament on August 4.
“Our budget is 1.5 billion rubles short due to the oil squabbles with Russia,” he said.
Belarus and Russia had been failing to agree on the oil supply terms that would suit both parties for quite a while early this year. Belarus’ refineries (Mozyr Oil Refinery OJSC, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) had to only utilize a part of their capacities due to supply cuts.
According to the National Statistics Committee of Belarus (Belstat), Belarus’ oil product export dropped in January-May 2020 by 53.6% year on year. Losses were estimated at $1.412 billion in monetary terms. Fiscal revenues from foreign trade were down 30%. The state budget was reportedly Br719 million ($230 million) short in terms of export duties on oil products and potash fertilizers against January-May 2019. End