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Export of Belarusian oil products to Russia falls threefold

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Export of Belarusian oil products to Russia falls threefold

The export of Belarusian petroleum products to the Russian market has declined threefold in the first quarter of the year compared to the same period of 2014.

According to BelaPAN news agency, Belarus delivered 154,400 tonnes of oil products to Russia in the first quarter of the year against around 450,000 tonnes in January-March 2014.

The export of Belarusian petroleum products to the Russian market in monetary terms fell almost fivefold due to a decrease in oil prices. The export of Belarusian oil products to Russia was about 260 million dollars in the first quarter of 2014 and 51.8 million in January-March 2015.

Belarus undertook obligations to ship 1.8 million tonnes of oil products to the Russian market in 2015. Belneftekhim company earlier said that deliveries of Belarusian oil products to Russia had been suspended in March.

“There were no supplies in March. We used our right to suspend supplies in March until holding consultations on restoring the rate of return,” Belneftekhim chairman Ihar Liashenka said at a press conference on March 18.

Belneftekhim deputy chairman Vitali Paulau said in the second half of April on the sidelines of the Belarusian Oil and Gas Week in Minsk that deliveries had been resumed in April and Belarus had shipped 25,000 tonnes of petroleum products to Russia.

Deputy PM Uladzimir Siamashka later said Belarus again suspended supplies of oil products to the Russian market due to unfavourable price conditions.

Russia's Ministry of Energy released a statement in response, saying that deliveries of Russian oil to Belarus could be cut due to Belarus' failure to ship oil products to the Russian market. The issue can be considered by June, the Russian ministry informs.

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