Minsk and Moscow will sign oil supply contracts by the end of the year

Belarusian Prime Minister Roman Golovchenko expects Minsk and Moscow to conclude all contracts for oil supply by the end of 2020. According to him, there is no tension in the negotiations this year, Kommersant reports.

“This year, there is no tension. Issues are being solved according to the plan... We have agreed with the Russian government that it is not necessary to "put everything under the Christmas tree"... I am sure that all contracts for the supply of oil to the Republic of Belarus will be signed by the end of the year” he said.

According to him, agreements have already been signed with several major suppliers.

The Prime Minister of Belarus did not assess the expected oil supplies from Russia in 2021. According to him, they will be determined by economic feasibility.

In early 2020, Russia's oil supplies were suspended after Belneftekhim, and Russian companies could not agree on a price. Minsk was dissatisfied with the fact that it pays a premium to the export netback for Russian oil. As a result, a compromise was reached – the premium was reduced to $5 per ton, and supplies resumed in April.