Russia will Limit the Supply: Cheap Oil will no Longer be

Russia wants next year to significantly reduce the duty-free oil supplies to Belarus. We are talking about reducing the supply of petroleum products in dozens of times.

Instead of 2 million tonnes of petroleum products Belarus will be able to get only 100-300 thousand tons per year, said the chairman of the tax Ministry of Finance Department Alexei Sazonov.

The official noted that Russia has huge losses due to the supply of oil to Belarus at a low price. After Minsk the following supplies its products at its refineries for export, and export duties entered in the budget.

Last year, we lost because of that 10 billion rubles, – said Alexey Sazonov. – This year, for the first half – another 10 billion.

After Russia’s tax maneuver is completed, such a scheme will cease to work. But while officials in the Kremlin say the need to reduce oil supplies to Belarusian refineries. At least such an opinion voiced by the chairman before the Ministry of Energy Alexander Novak. Head of the Russian Energy Ministry said that the sound economic reasons in the duty-free oil supplies to Belarus is not, as the Belarusian side can simply re-export it. Therefore, Russia will limit the supply of oil even in the fourth quarter of this year.

218 Comments