Updated at 16:34,06-12-2016

Minsk Set Not to Share Profits from Venezuelan Oil Deal with Russian Shareholder

Alyaksandr Lukashenka warned on Tuesday that the Russian shareholder should not receive any profits from the processing of an 80,000-ton shipment of Venezuelan crude at the Mazyr oil refinery.

Russia’s Slavneft holds a 42.58-percent stake in the enterprise but the entire profits from the Venezuelan oil deal must go to the Belarusian state, Alyaksandr Lukashenka told the refinery’s CEO Anatol Kupryyanaw while visiting the Homyel region on April 27.

"Keep in mind: if even a single kopeck goes to the investors on that side, you will have only yourself to blame. All of the money and profits should be in Belarus," he said.

The Venezuelan crude shipment is expected to arrive at the Mazyr oil refinery in the first 10 days of May.
The Latin American country is expected to supply up to four million tons of crude oil to Belarus before the end of this year.