BELARUS NEWS AND ANALYSIS

DATE:

04/01/2007

Belarus slaps duty on Russian oil

MINSK, Belarus (UPI) -- Belarus said it was imposing a duty on oil Russian oil crossing its territory in retaliation for Russia`s more than doubling its natural gas price.

The $45-per-metric-ton transit duty, imposed Thursday by Belarusian President Alexander Lukashenko, is retroactive to Monday, the day the gas hike to Belarus went into effect, the Russian Information Agency Novosti reported.

The Kremlin said the duty will not threaten oil deliveries. Some analysts said it could cause short-term disruption to German and Polish refiners, the BBC reported. The refiners might also look for cheaper supplies elsewhere.

Russia transports 20 percent, or 1 million barrels, of its oil exports through Belarus, largely to Germany and Poland.

Belarus agreed to pay $100 per cubic metric ton, up from $46.7, and sold half its Beltransgaz gas pipeline operator for $2.5 billion, half the $5 billion Belarus originally demanded.

Moscow says it wants all former Soviet republics pay market prices for energy supplies.

Source:

http://news.monstersandcritics.com/business/news/article_1239667.php/Belarus_slaps_duty_on_Russian_oil

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