Updated at 17:46,10-07-2018

Russia to Increase Gas Prices for Belarus and Not to Allow Earning on Oil


Russian vice premier Igor Sechin made a number of loud statements on Belarusian-Russian economic relations.

Belarus will get duty-free oil only for domestic consumption. "Belarus was offered to get duty free oil only for domestic consumption, all other volumes should be liable to 100-percent customs duties," Sechin said.

Sechin added that the system of preferential supplies attracted agents who "damage not only the Russian budget".

Igor Sechin said the Russian party thinks official Minsk could partially compensate for the increase in gas prices for Belarus at the cost of the financial resources transferred by Gazprom to form a stake in Beltransgaz.

"Another Gazprom’s tranche to form its stake in Beltransgaz can be used to partially compensate for the increase. As it is known, Gazprom buys a 50% stake, and it is to transfer $625mn in February," Sechin said.

Speaking about the current gas cooperation with Belarus, Sechin noted: "I think no comments are needed here, we have a contract, which terms must be fulfilled by both parties."

What to the growth of gas prices for Belarus, Sechin said it was "minimal" and added it didn’t practically exceed inflation rate.