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July 10 – July 16, 2023
Belarus-Russia relations

Minsk assesses the size of oil and gas rent

The situation has not changed

Moscow is supposedly ready to meet Minsk halfway on a number of trade and economic matters, including gas pricing and the volume of purchases of Russian oil products. The parties intend to start creating a Union State media holding this year.

Minsk assesses the size of oil and gas rent

The formula for calculating the cost of gas for Belarus, which has been in effect for the last three years, will be extended until 2026. According to DTV news, Belarus will buy gas from Russia at the lowest price in the world for third countries. A methodology that will bring together the formulas for calculating prices, considering the structure of the economies of the two countries, is under development and discussion, and should be presented in December 2023.

Russia is also ready to meet Belarus halfway on a number of other issues related to foreign trade. In 2023, the volume of Russia’s purchase of Belarusian oil products may reach 1 million tons.

Meanwhile, Belarus has approved amendments to the loan agreement with Russia regarding nuclear power plants. According to the updated agreement, “the loan was used by Belarus in 2011-2023,” and “repayment of the loan begins six months from the date of commissioning of the nuclear power plant, but no later than April 1st, 2024, and will take the form of 30 equal instalments every six months”.

Belarus and Russia intend to start creating a media holding of the Union State this year. Earlier, the Minister of Information of Belarus, Vladimir Pertsov, stated that a single media company would unite all the resources of the Union State. It will be aimed at promoting the information agenda of the Union State in the two countries – i.e., at creating a single propaganda flow.

On July 14th, Lukashenka appointed the Belarusian representative to the Commission on Human Rights of the CIS and his deputy. They are, respectively, the head of the Department for Supervision of Compliance with the Law of Court Decisions in Criminal Cases of the Prosecutor General’s Office, Yevgeny Paramonov, and the Chairman of the Standing Commission of the Council of the Republic of the National Assembly of Belarus on Legislation and State Building, Sergei Sivets.

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