Lukashenko on 'unexpected offer' on oil from Putin

Russian President Vladimir Putin offered his Belarusian counterpart Alexander Lukashenko to compensate Minsk for budget losses arising from changes to Russian oil taxation. That was said by the Belarusian leader today at the meeting with Governor of Russia's Arkhangelsk Oblast Igor Orlov.

The compensation could amount to $300 million, Lukashenko said after a phone call with Putin, adding Moscow was also ready to keep oil supply terms at last year’s level.

He said that the offer was unexpected.

Belarusian Prime Minister Sergei Rumas said this month that Belarus lost $330 million in 2019 due to changes in Russian taxation, TASS recalls.

Moscow used to send crude oil and oil products to Minsk with no export fee under a duty-free deal between Russia, Belarus and Kazakhstan. However, it amended its tax code on January 1 last year to halt that arrangement.