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Belarus suspends gasoline supply to Russia due to profit concerns

Xinhua, March 19, 2015 Adjust font size:

Belarus suspended its gasoline supply to Russia in March, Igor Lyashenkom, chairman of the country's largest industrial complexes, Belneftekhim Concern, told local media Wednesday.

Belarus stopped supplying of gasoline to Russia in March by using amendment to the bilateral agreement that allows suspension if profits of the Belarusian side are reduced until consultations are held and some additional measures are worked out, said the head of the Belarusian State Concern for Oil and Chemistry.

"Belarus fully complied with its obligations to the Russian market in January-February 2015. In March there have been no deliveries. We took advantage of the right to suspend the deliveries for some time for consultations on the restoration of their profitability," Lyashenko said.

According to the official, from January to February this year, Belarus supplied 140,000 tons of gasoline to the Russian market and is ready to continue with the supply when market recovers to a level that is profitable.

Belarus will receive from Russia 23 million tons of crude oil in 2015. According to the oil balance between the two countries, Belarus should return 1.8 million tons of gasoline to Russia. Endite