Oil and gas dispute between Russia and Belarus has been settled, Medvedev says

Oil and gas dispute between Russia and Belarus has been settled, Medvedev says

14 April 2017

Moscow and Minsk have agreed on terms of oil and gas supplies, Russian prime minister Dmitry Medvedev said, TASS reports.

According to him, on April 13 the parties came to a win-win solution. “The adopted package of documents minimizes the risks of price disputes or any misinterpretation of the contract,” the premier said. On April 12, Belarusian government provided additional guarantees of the conflict settlement, he added.

According to Medvedev, Moscow expects Minsk to repay its gas debt to Gazprom, after which the parties will get to the implementation of the reached agreements.

On April 3, presidents of Russia and Belarus settled the oil and gas dispute. “We have agreed to settle our oil and gas dispute. We have also agreed on the terms and ways of settlement,” Putting said following a meeting with Lukashenko in St. Petersburg. The same day, vice PM Arkady Dvorkovich said Belarusian gas debt to Russia made $726 million.

In 2016 Russia reduced oil supplies to Belarus, linking the decision to the underpayment for gas and undersupplies of oil products to Russia. Expected 24 million tons of oil to be supplied to Belarus in 2016-2024 annually were reduced to 2.5 million tons.

Belarusian Lukashenko insisted that Minsk had a right for cheaper gas due to the fall in oil prices. Moscow replied that in 2011-2015 it fell short of $22.3 billion due to duty-free oil supplies to Belarus.

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