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26 May 2020, 19:22

Belneftekhim sees no problems with redirecting export after Russian ban on fuel import

MINSK, 26 May (BelTA) – Belneftekhim sees no problems with fuel export after Russia banned the import of oil products because small amounts of Belarusian fuel were exported to Russia, BelTA learned from Aleksandr Tishchenko, Press Secretary of the Belarusian state petrochemical concern Belneftekhim.

According to the source, Russia was not the main target market for Belarusian fuel. Some spot sales were organized via an exchange in St Petersburg. No long-term contracts on shipments to Russia have been signed.

“The share of shipments to Russia in the total export volume was small. This is why the volumes we will be unable to sell in Russia will be redirected to other markets without hurting our export,” the Belneftekhim press secretary explained.

In his words, Belarusian oil refineries are operating steadily now. Their workloads are tweaked to satisfy the domestic demand and ensure steady export to the main target markets.

The ban on importing oil products to Russia will stay in effect till 1 October. Previously Russian Energy Minister Aleksandr Novak was quoted as saying that it was a forced measure. The decision is supposed to prevent cheap foreign gasoline from reaching the Russian market and to support Russian oil refineries.

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