MINSK, 20 June (BelTA) – The situation over the tainted Russian oil poses no risks for the budget, Belarus Finance Minister Maksim Yermolovich told reporters on 20 June, BelTA has learned.
“As far as overall budget revenues are concerned, everything goes as planned, without any deceleration. Therefore, this situation in the oil industry poses no risks for the budget. There is a clear understanding that budget revenue targets will be met by the end of the year. We might even perform above the targets,” the minister said.
The actual losses from receiving the substandard Russian oil will be assessed while reviewing the oil sector performance over the year. They will depend on whether oil processing volumes will be restored.
“We have a clear understanding that from the technological standpoint these volumes might be restored in full compliance with the initial plan. This means that we will avoid losses this year,” the minister said.
BelTA reported earlier that on 19 April Belneftekhim registered a massive decrease in the quality of the Russian oil mixture Urals flowing in transit into the Druzhba oil pipeline. The concentration of organic chloride in oil exceeded standard thresholds dozens of times over. Both Belarusian oil refineries: Mozyr Oil Refinery and OAO Naftan were forced to reduce their workload and experienced financial losses.
