Traders said that the Belarusian refinery in Mozyr would cut imports of Russia's Urals crude by 55 percent in July, because this will be replaced with Venezuelan oil
Belarus is slashing imports of Russian oil as it is increasing oil imports from Venezuela, traders said on Thursday. Belarus' energy bill has soared, as Minsk is desperate to diversify supplies in order to move away from Moscow.
Traders said that Belarus' Mozyr refinery would cut imports of Russian Urals crude by 55 percent in July, as this will be replaced with Venezuelan oil, Reuters reported.
Belarusian statistical data showed that in May the country paid USD 656 per ton of Venezuela's Santa Barbara crude, compared with an average price of only USD 394 for Russian oil between January and May.
Belarus is expected to increase imports of Venezuelan crude in July through the Black Sea port of Odessa to 240,000 tons from 160,000 tons in June, a port source told Reuters.