Stumbling block to creating common markets of oil, gas and electricity between Russia and Belarus lies in finding approaches to unifying market models

<p> MINSK, Nov 10 - PrimePress. The main problem of creating common markets of oil, gas and electricity between Russia and Belarus is finding approaches to unifying market models and ways to regulate and set prices for these commodities. Aza Migranyan, Lead Researcher at the Post-Soviet Research Centre of the Institute of Economics of Russian Academy of Science, made a statement to this effect during the conference of the Gromyko Association for Foreign Policy Studies. </p> <p>   </p> <p> “As of today, Moscow and Minsk have different approaches to the formation of joint energy markets, and the signing of union programs does not mean that Russia and Belarus will have built them in 2023,” Migranyan was quoted by Eurasia. Expert. </p> <p>   </p> <p> In her words, the documents signed by the heads of state are only about agreeing on the principles of markets formation. </p> <p>   </p> <p> “The solution to this problem will depend not so much on economic reforms and switching to other models, but more on the understanding of the top leadership and the political will,” Migranyan said. </p> <p>   </p> <p> She explained why Russia and Belarus find the issue of energy pricing so sensitive. “The terms of trade relations in the energy sector and the format of pricing of major energy resources determine living standards, inflation and consumer prices in both countries. Thus, this area affects the interests of all sectors of society,” said Migranyan. </p> <p>   </p> <p> As previously reported, operating principles of the single market of Russia and Belarus will be developed by July 2022. Prime Minister of Belarus Roman Golovchenko made a statement to this effect at a meeting of the Supreme State Council (SSC) of the Union State of Belarus and Russia held via videoconference on 4 November. </p> <p> Golovchenko said: “A whole block of programmes is related to the energy sector. Joint markets for oil products, electricity and gas are to be formed. So already by July 2022 we should develop principles for operating the unified gas market. And by 1 December 2023, with these principles taken into account, sign a corresponding addendum to the Union Program.” </p> <p>   </p> <p> Russian Prime Minister Mikhail Mishustin said that Russia and Belarus are beginning to form joint oil, gas and electricity markets in stages. </p> <p>   </p> <p> As previously reported, Presidents of Belarus and Russia Alexander Lukashenko and Vladimir Putin, at a meeting in Moscow on 9 September 2021, reconciled all 28 union programmes to deepen integration between the two countries. On 10 Sep 2021 the Council of Ministers of the Union State approved the 2021-2023 guidelines for the implementation of the provisions of the Treaty on the Creation of the Union State and 28 Union State programmes aimed to accomplish major aspects of strengthening Russia-Belarus integration. A decree of the Supreme State Council of the Union State to approve the 28 union programmes was signed by Putin and Lukashenko on 4 Nov 2021. The text of the programmes has not yet been made public. They concern customs, tax, energy and other areas of cooperation. End </p>

2021-11-11

Primepress