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Belarusian Export Of Oil Products Decreased By $1.23 Billion Over the Year

Belarusian Export Of Oil Products Decreased By $1.23 Billion Over the Year

The decline will continue.

Exports of Belarusian oil products in monetary terms amounted to $4.8 billion in January-November and decreased by $1.23 billion (-20.4% compared to the same period in 2018), naviny.by reports.

According to the National Statistical Committee, in physical terms, the export of oil products amounted to 9.6 million tons, which is 13.3% less compared to the same period of 2018.

At that 3.1 million tons of oil products were supplied to the CIS countries, which approximately corresponds to the level of the year before last. In January-November, 6.5 million tons of oil products were exported to non-CIS countries, which is 1.5 million tons or 18.7% less compared to the same period last year.

In 2019, exports of Belarusian oil products would decline compared to 2018, Deputy Prime Minister Ihar Liashenka told reporters in Parliament earlier, answering BelaPAN questions.

According to Deputy Prime Minister, since Russia has restricted the supply of petroleum products to Belarus from November 1, 2018, "one million, maybe one and a half million tons" of Belarusian exports of petroleum products may fall out in 2019.

We remind that Russia raised the issue of limiting the supply of oil products to Belarus the year before last. The Russian authorities motivated this initiative by the Russian budget losses due to possible re-exports of petroleum products from Belarus.

In autumn 2018, following the talks between the governments of the two countries, Deputy Prime Ministers of Belarus and Russia Ihar Liashenka and Dmitry Kozak (appointed by Vladimir Putin deputy head of presidential administration) signed a protocol on amendments to the intergovernmental agreement on measures to regulate trade and economic cooperation in the export of oil and petroleum products.

The protocol provides that from November 2018, Belarus can import from Russia only the petroleum products that are not produced in the country.

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