Belarus not to receive compensatory inter-budget transfers in oil trade with Russia in 2021
<p> MINSK, Dec 29 - PrimePress. There will be no compensatory inter-budget transfers in Belarus-Russia oil trade in 2021, Belarusian Finance Minister Yuri Seliverstov said on December 28, 2020. </p> <p> </p> <p> “The main decisions [on oil supplies] have been made for this period. This year, we do not consider inter-budget transfers as compensation for future supplies,” BelTA state newswire quotes Seliverstov as saying. </p> <p> </p> <p> He said, the oil supply contracts for 2021 stipulate similar, yet slightly different terms, i.e. without a budget component. </p> <p> </p> <p> First Deputy Minister of Finance Dmitry Kiyko says Belarus will receive 90% of the annual inter-budget transfer in 2020 and the rest for December 2020 in 2021. </p> <p> </p> <p> As previously reported, Belarus and Russia failed to agree on the full resumption of oil supplies in early 2020 (24 million tonnes were planned for 2020) due to price disputes, in particular, the Russian export premiums of $10-12 per tonne for Russian oil suppliers. </p> <p> </p> <p> During the intergovernmental talks on oil supply resumption held in late March 2020, the parties agreed that Russian oil companies would make a $7 per tonne discount to the premiums, and the $4.7 per tonne premium would be covered by the Russian budget by means of inter-budget transfers, but only in 2020 if the oil price would not be over $40-45 per barrel. </p> <p> </p> <p> Russian Deputy Finance Minister Alexei Sazanov told Reuters in June 2020 that Russia could give Belarus $60-70 million in oil supply premium compensation in 2020 through inter-budget transfers, and this was only considered for 2020. End </p>
2020-12-30
Primepress
MINSK, Dec 29 - PrimePress. There will be no compensatory inter-budget transfers in Belarus-Russia oil trade in 2021, Belarusian Finance Minister Yuri Seliverstov said on December 28, 2020.
“The main decisions [on oil supplies] have been made for this period. This year, we do not consider inter-budget transfers as compensation for future supplies,” BelTA state newswire quotes Seliverstov as saying.
He said, the oil supply contracts for 2021 stipulate similar, yet slightly different terms, i.e. without a budget component.
First Deputy Minister of Finance Dmitry Kiyko says Belarus will receive 90% of the annual inter-budget transfer in 2020 and the rest for December 2020 in 2021.
As previously reported, Belarus and Russia failed to agree on the full resumption of oil supplies in early 2020 (24 million tonnes were planned for 2020) due to price disputes, in particular, the Russian export premiums of $10-12 per tonne for Russian oil suppliers.
During the intergovernmental talks on oil supply resumption held in late March 2020, the parties agreed that Russian oil companies would make a $7 per tonne discount to the premiums, and the $4.7 per tonne premium would be covered by the Russian budget by means of inter-budget transfers, but only in 2020 if the oil price would not be over $40-45 per barrel.
Russian Deputy Finance Minister Alexei Sazanov told Reuters in June 2020 that Russia could give Belarus $60-70 million in oil supply premium compensation in 2020 through inter-budget transfers, and this was only considered for 2020. End