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25 March 2020, 14:48

Finance ministries of Belarus, Russia working on interbudget oil transactions

MINSK, 25 March (BelTA) – The finance ministries of Belarus and Russia are preparing a mechanism for interbudget transactions for oil deliveries, the press service of the Belarusian Finance Ministry told BelTA.

The Belarusian Finance Ministry is starting work with Russian colleagues in order to prepare the relevant mechanism, the press service said.

On 24 March BelTA quoted Prime Minister of Belarus Sergei Rumas as saying that Russian companies will supply oil to Belarus without premiums. Part of the premium will be compensated by the Russian government using interbudget transactions.

In his words, premiums paid to Russian companies were as high as $11.7 in the past. “Companies will reduce this premium by $7. In other words, the companies will supply oil with a premium of $4.7. It will be settled by interbudget transactions. I mean the Russian Federation government will take care of the $4.7,” the prime minister explained.

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