Report: Belarus continues search for oil suppliers besides Russia

MINSK, May 5 (PRIME) -- Belarusian state company Belneftekhim is continuing negotiations on diversification of oil supplies and is seeking a supplier alternative to Russia, the company’s CEO Igor Lyashenko said in an interview to Belarusian daily Respublika published on Friday.

“Recent disputes (with Russia over oil supplies) forced us to study the possibility of importing oil from other regions closely. This is not a fast and easy process, as we have to find partners, calculate logistics and different options," he said as quoted by the daily.

"We are still working on that…We are still solving these issues not to spite Russia – diversification is always an additional safety cushion for the economic condition of any industry.”

He refused to disclose countries and possible suppliers.

“The negotiations are going on, and their content is a commercial secret. But we have some options,” he said.

In 2016, Minsk said that Russian prices for gas are unfair and started paying less for it unilaterally. Moscow cut duty-free oil supplies to Belarus saying there were shortfalls in duty-free oil product shipments to Russia, which Minsk was to carry out in return for the oil.

In April, the countries solved the dispute and Moscow agreed to restore oil exports to Belarus at 24 million tonnes a year.

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