Putin ratifies oil sector protocol with Belarus

The President of Russia has approved the changes in the agreement between the governments of Belarus and Russia, which regulates trade and economic cooperation in the field of oil and oil products exports, the Kremlin reported on April 1.

The corresponding law was adopted by the State Duma on March 20 and approved by the Federation Council on March 27. The parties agreed to make changes on October 10, 2018.

According to the document, by October 1 of each year the parties agree on the balance of oil and oil products supply for the next year. At the same time, they consider the type and quantity of goods that Belarus receives to meet domestic needs.

Goods that are not on the list are exported without balance sheets.