,,Gas War" waging between Russia and Belarus.

By bne IntelliNews June 23, 2010
Russia's natural gas monopoly Gazprom reduced daily natural gas supplies to Belarus by 30% on June 22, after a 15% cut on a previous day, as Minsk failed to settle the debt owing for natural gas supplies. In a retaliation move, Belarus announced that it is going to partially block the transit of Russian gas to Europe, diverting the gas in order to supply domestic gas demand. Gazprom shortly after pledged to fully carry out European supplies using transit through Ukraine, underground storage facilities and spot markets. Both Russia and Belarus claim about a USD 200mn large debt from the other party, Russia over Belarus paying outdating prices for gas supplies and Belarus over unpaid gas transit through its territory. Gazprom plans to decrease daily natural gas supplies to Belarus by up to 85% until the debt is not settled.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Russias participation in Cyprus bail-out under question.

As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more

Fitch: Russian banks risks in Cyprus limited.

Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more

Sources: Russia could triple oil exports to China.

Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Don't mention the "D" word - Ukraine
    6 days ago
  4. The 'wet-bulb' set to kill hundreds of thousands of people if temperatures and humidity levels continue to rise
    3 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    1 month ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    29 days ago
  5. Saudi Arabia to scale back plans for Neom city
    16 days ago

Reports

Dismiss