Russia, Belarus settle gas debts.

By bne IntelliNews June 25, 2010
After Belarus transferred USD 187mn to repay the debt for natural gas supplies to Russian gas monopoly Gazprom, the daily supplies of gas to Belarus resumed at normal volumes (they were cut by 15%, 30% and 60% on three days preceding the debt payment, respectively). At the same time, Gazprom transferred USD 228mn in order to settle the debt for gas transit through Belarus territory. The transfer was confirmed by Minsk, however, Belarus estimates the debt at USD 260mn noting that only 87% of the owed amount was covered. While gas transit through Belarus continues normally (this week Lithuanian gas major Lietuvos Dujos reported 40% decline in gas supplies due to gas being diverted in Belarus), there is still a possibility of Belarus limiting gas transit from Russia if the issue is not solved.

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

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss