In hope of better price: Belarus suspends shipment of oil products to Russia

Belarus has suspended the shipment of oil products to Russia until the prices are favorable, state-run news agency BelTA learned from Deputy Prime Minister of Belarus Uladzimir Syamashka on Wednesday.

Speaking about supplies of oil products to Russia, the Deputy Prime Minister said that there are still some minor issues caused by the reduction of the exchange rate of the Russian ruble.

“Russia stays dedicated to its pricing policy. Prices are not raised, including prices for fuel. Gasoline used to cost as much as $0.90 per liter, now it costs $0.50-0.54 depending on the grade of gasoline,” BelTA quoted him as saying.

“In this situation we lose roughly $100 per tonne on some varieties of gasoline when we sell it to Russia. We cannot afford it, this is why we have used the clause specified by the Eurasian Economic Union foundation treaty. If the price for oil products is lower than the price we can get in other markets, we have the right to temporarily suspend deliveries of such products,” Syamashka noted.

He added that the Russian side was sympathetic about it.

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