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Economics & Business News

Possible oil supplies cut for Minsk

Russian Energy Ministry has threatened to reduce its oil supplies to Belarus in the third quarter, if the latter fails to return the agreed volumes of petrol to Russia. Currently, Belarusian petrol supplies are twice as lower as the minimum level, envisaged by the bilateral agreements. The thing is that it is much more profitable for Minsk to sell petrol in other markets.

This has been reported by Aleksandr Novak, the head of the Ministry. He has added that the relevant decision will be based on the results of the negotiations with Minsk.
On Friday, petrol stock prices greeted the announcement by Aleksandr Novak with AI-92 petrol price falling by 0,14% and АІ-95 petrol price nominally increasing by only 0,16% after its 2% rise on Thursday.

Possible oil supplies cut for Minsk