Belarus Oil Crisis - Vice President of Russia's largest oil exporter says no Belarus Oil Crisis is happening or will happen in the future.
The looming Belarus Oil Crisis will be discussed by the two heads of state, Mikhail Miasnikovich and Vladimir Putin, regarding the conditions of a delivery, in a meeting in Moscow.
However, it is assured that there will be no global oil crisis , even after no agreement has been made. Rather the ministers are discussing policies on pricing and volumes of consumer-owned and processing.
The looming crisis first appeared when delivery of oil was stopped, and Minks stopped delivery of oil to Belarus, though the extent of the effect is not greater as predicted due to the Rhuzba pipeline, servicing other European countries.
Oil companies in Russia want to increase rates of oil prices blaming it on the growth of oil in the World Market. Russia in the month of January alone should have delivered 1.5 millions of tons of oil but as of now no deliveries are made leading further into a possible Belarus Oil Crisis.
On Belarus point of view they consider it wrong to tax oil, stating that it violates the concept of free trade and other provisions undertaken by the Eurasian Economic Community and affiliated countries.
Oil is an important component especially on transportation; we consume oils and gases more than we ever know. Stay tuned for more on the Belarus Oil Crisis.