Belneftekhim companies plan to increase exports by 30% yoy in 2021 despite sanctions
<p> MINSK, Nov 8 - PrimePress. Oil and chemical companies of Belarus’ state-owned Belneftekhim Group plan to increase exports by 30% year on year in 2021 amid external sanctions, said Belneftekhim CEO Andrey Rybakov. </p> <p> </p> <p> “Belneftekhim's export shipments have increased this year in comparison with 2020. Export growth rate is expected to exceed 130% in 2021. We already make business plans for the next year and we see we will only do better in every position,” BelTA reports citing Rybakov as saying. </p> <p> </p> <p> Asked whether western sanctions have affected the performance of Belarusian petrochemical enterprises, Rybakov said: “They definitely have. Any pressure always has an effect. Just like pressure on the oil market. So, the pressure of sanctions is having an effect. How to respond to it, the development of the solutions that allow us to work steadily in all directions are what matters.” </p> <p> </p> <p> On 3 June 2021, the US Department of the Treasury renewed sanctions against nine Belarusian companies - Belneftekhim and its US subsidiary, Belshina, Grodno Azot, Grodno Khimvolokno, Lakokraska, Polotsk Fiberglass, Belarusian Oil Trading House and Naftan. The move to renew the effect of US sanctions came as a reply to the political events that followed the Aug 2020 presidential elections in Belarus. </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> Deputy Prime Minister of Belarus Yury Nazarov said on 28 Oct that Belarusian oil refineries (Mozyr Oil Refinery, Gomel Oblast, and Naftan, Novopolotsk, Vitebsk Oblast) will increase oil processing by 3% year on year in 2021 to 16.8 million tons. The losses of Belarusian oil refineries as a result of western sanctions have already reached $80 million, he admitted. End </p>
2021-11-09
Primepress
Belneftekhim companies plan to increase exports by 30% yoy in 2021 despite sanctions
MINSK, Nov 8 - PrimePress. Oil and chemical companies of Belarus’ state-owned Belneftekhim Group plan to increase exports by 30% year on year in 2021 amid external sanctions, said Belneftekhim CEO Andrey Rybakov.
“Belneftekhim's export shipments have increased this year in comparison with 2020. Export growth rate is expected to exceed 130% in 2021. We already make business plans for the next year and we see we will only do better in every position,” BelTA reports citing Rybakov as saying.
Asked whether western sanctions have affected the performance of Belarusian petrochemical enterprises, Rybakov said: “They definitely have. Any pressure always has an effect. Just like pressure on the oil market. So, the pressure of sanctions is having an effect. How to respond to it, the development of the solutions that allow us to work steadily in all directions are what matters.”
On 3 June 2021, the US Department of the Treasury renewed sanctions against nine Belarusian companies - Belneftekhim and its US subsidiary, Belshina, Grodno Azot, Grodno Khimvolokno, Lakokraska, Polotsk Fiberglass, Belarusian Oil Trading House and Naftan. The move to renew the effect of US sanctions came as a reply to the political events that followed the Aug 2020 presidential elections in Belarus.
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.
Deputy Prime Minister of Belarus Yury Nazarov said on 28 Oct that Belarusian oil refineries (Mozyr Oil Refinery, Gomel Oblast, and Naftan, Novopolotsk, Vitebsk Oblast) will increase oil processing by 3% year on year in 2021 to 16.8 million tons. The losses of Belarusian oil refineries as a result of western sanctions have already reached $80 million, he admitted. End