Belarus to receive $60-70m in 2020 in Russia’s compensation for oil supply costs – Russian Finance Ministry

<p> MINSK, Jun 16 - PrimePress. Belarus may receive $60-70 million in 2020 in Russia’s compensation for oil supply costs through inter-budget settlements, Russian Deputy Finance Minister Alexei Sazanov told Reuters. </p> <p>   </p> <p> “A compensation mechanism (part of the export premium in the amount of $7 per tonne of oil) is being considered at a high level. This only concerns 2020. These will be small numbers, hardly over $60-70 million in 2020,” said Sazanov. </p> <p>   </p> <p> As reported, Russia and Belarus have been failing to agree on the full resumption of oil supplies since early 2020 (the plan for 2020 was 24 million tonnes). Belarus argues against the export premium of $10-12 per tonne to Russian suppliers. </p> <p>   </p> <p> The parties agreed in March 2020 that the premium would be reduced from $11.7 to $4.7 per tonne, and the $7 discount would be compensated by the Russian government through inter-budget settlements. The Finance Ministries of Belarus and Russia have not signed an agreement on this yet. So far, Russian companies have been formally supplying oil to Belarus without a premium since April 2020, but compensation has not been calculated. </p> <p>   </p> <p> According to the Belarusian state petrochemical concern Belneftekhim, Belarusian oil refineries (Mozyr Oil Refinery OJSC, Gomel Oblast, and Naftan OJSC, Novopolotsk, Vitebsk Oblast) processed about 5.4 million tonnes of oil in January-May 2020. Belarus plans to import 1.1 million tonnes of oil from Russia in June 2020. End </p>

2020-06-17

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