Belarus' foreign minister Vladimir Makei meets Ukraine's president Petro Poroshenko in Kyiv. Credit: Ukraine's presidential press service.According to Kommersant, Russia and Belarus are close to concluding an agreement that will end the gas dispute that has dragged on since the beginning of 2016. Predictably, this doesn’t mean that Minsk’s unilateral interpretation of the gas contract will be accepted: the $300m bill it has accumulated over the months still needs to be paid.
Moscow has, however, agreed to some concessions. The price of gas will no longer be tied to the dollar and will be calculated in roubles, which will cover Belarus against any losses connected with currency devaluations.
Russia’s current gas price for Belarus stands at $132 per 1,000cm. Minsk has been asking for a drop to $73, but Moscow has agreed on $100, which is already a considerable discount. Supplies, cut in June over Belarus’ refusal to move on its price demands, will also rise again to the previous level. And although the price to customers there will remain higher than in Russia itself, there is a promise that this gap will disappear by 2025.
