In January, oil exports from Russia to Belarus dropped by 73.7% in annual terms and stood at 407.2K tons, while the planned volume of supplies was expected at 1.99 mio tons.
Minsk and Moscow have so far failed to reach agreement on oil supplies, with Belarus dissatisfied with the proposed price and the lack of agreements with Russia on receiving compensation for losses from Russia’s tax maneuver in the oil industry.
The two countries have agreed upon oil deliveries of 750K tons from Russia to Belarus in this year’s first quarter. Meanwhile, Belarus has purchased some 86K tons of oil from Norway to be delivered via the port of Klaipeda in Lithuania.