Updated at 16:11,02-12-2016

Belarus to pay for shadow export of oil returning gasoline to Russia

Russias Minister of Energy Alexander Novak says estimated losses of Russia from Belarus re-export of oil under the guise of solvents are $1.52.5bln. Russian newspaper Vedomosti talked to Alexander Novak about the issue.

Is it true that Russia demanded $1.5bln as compensation for shadow "solvents" export?

In accordance to different evaluations, the Russian budget losses total from $1.5bln to $2.5bln.

Will Belarus ship oil products to Russia to reimburse the sum?

Russia and Belarus inked the indicative balance on supplying oil and oil products. Now Belarus requires 23bln tones of Russian oil in 2013.

This year the balance totals 21.5mln tones. It means they [Belarus] increased the offer of processing the oil in its oil refineries

Surely, Belarus does need that much oil for internal use.

Belarus home consumption is 6mln tones.

Yes, they are obliged to return oil products to Russia under the conditions of the annual balances.

Is there a set amount of these oil products?

Yes, now were reconsidering these figures. They should be decided on by the end of November.

On processing conditions?

It differs. We will suggest that both our companies who are the proprietors of the oil products and Belarusian companies according to their share of ownership should return the processed oil products and sell it in Russia. First of all, this is gasoline.