Belarus oil refineries lose $80m due to sanctions – vice premier
<p> MINSK, Oct 28 - PrimePress. The losses of Belarusian oil refineries as a result of western sanctions have already reached $80 million. Deputy Prime Minister Yury Nazarov made a statement to this effect during a joint session of both chamber of Belarus’ parliament on 28 October. </p> <p> </p> <p> “Unfortunately, we are fully aware that the sanctions will last for a long time, and in the future they can have a tangible impact on the economy of our country. I will give you an example: the losses of our oil refineries alone as a result of the sanctions and the measures we had to undertake in response have already amounted to $80 million,” Nazarov said. </p> <p> </p> <p> As previously reported, on 24 June 2021, the EU Council imposed sanctions against major sectors of the Belarusian economy. The sanctions came as the EU response to the escalation of human rights violations in Belarus, as well as the incident with the emergency landing of a Ryanair flight in Minsk. The sanctions also target exports of Belarusian petrochemical products to the EU. </p> <p> </p> <p> There are two refineries currently operating in Belarus – Mozyr NPZ Refinery (Gomel Oblast) and Naftan (Novopolotsk, Vitebsk Oblast). </p> <p> </p> <p> The Mozyr NPZ refinery was established in 1975 and transformed into a joint-stock company in 1994, with a 42.757% stake currently owned by the state. </p> <p> </p> <p> Launched in 1963, Naftan is Belarus’ largest refinery and one of the largest in Europe. In 2008, Naftan incorporated another Belarusian refinery Polimir. 99.83% of the company belongs to the state. Naftan is capable of producing about 400,000 tonnes of diesel fuel per year. Naftan produces euro-4 and euro-5 diesel fuel, petrol and lubricants, which are exported to the EU, the Middle East and the United States. End </p>
2021-10-29
Primepress
Belarus oil refineries lose $80m due to sanctions – vice premier
MINSK, Oct 28 - PrimePress. The losses of Belarusian oil refineries as a result of western sanctions have already reached $80 million. Deputy Prime Minister Yury Nazarov made a statement to this effect during a joint session of both chamber of Belarus’ parliament on 28 October.
“Unfortunately, we are fully aware that the sanctions will last for a long time, and in the future they can have a tangible impact on the economy of our country. I will give you an example: the losses of our oil refineries alone as a result of the sanctions and the measures we had to undertake in response have already amounted to $80 million,” Nazarov said.
As previously reported, on 24 June 2021, the EU Council imposed sanctions against major sectors of the Belarusian economy. The sanctions came as the EU response to the escalation of human rights violations in Belarus, as well as the incident with the emergency landing of a Ryanair flight in Minsk. The sanctions also target exports of Belarusian petrochemical products to the EU.
There are two refineries currently operating in Belarus – Mozyr NPZ Refinery (Gomel Oblast) and Naftan (Novopolotsk, Vitebsk Oblast).
The Mozyr NPZ refinery was established in 1975 and transformed into a joint-stock company in 1994, with a 42.757% stake currently owned by the state.
Launched in 1963, Naftan is Belarus’ largest refinery and one of the largest in Europe. In 2008, Naftan incorporated another Belarusian refinery Polimir. 99.83% of the company belongs to the state. Naftan is capable of producing about 400,000 tonnes of diesel fuel per year. Naftan produces euro-4 and euro-5 diesel fuel, petrol and lubricants, which are exported to the EU, the Middle East and the United States. End