BELARUS NEWS AND ANALYSIS

DATE:

09/01/2007

Russia's Putin Calls Urgent Meeting on Belarus Oil Transit

MosNews

Russian President Vladimir Putin will meet his officials on Tuesday to discuss the situation with Europe-bound oil export halted since Monday due to a trade spat with Belarus, the Reuters news agency reports.

The meeting will take place at the Kremlin at 12.30 pm local time. There will be also talks with Belarussian officials, who have arrived in Moscow," an industry source said.

Russia, the world's second largest oil exporter, has accused Belarus of stealing oil from Druzhba pipeline, which carrying two fifths of its total exports, and has shut off exports to five central European nations, including Poland and Germany.

Europe is heavily reliant on Russia for its oil and gas and is vulnerable to Russian supply cuts.

The oil supply cut was reminiscent of a stand-off last year between Russia and Ukraine that hit gas supplies to Europe. It escalates a tit-for-tat dispute between Russia and longtime ally Belarus, which have imposed punitive oil levies on each other.

Source:

http://www.mosnews.com/news/2007/01/09/putinbelarusmeeting.shtml