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Belarus, Russia expected to create common markets of oil, natural gas, transport this year

MOSCOW, 28 June (BelTA) – Belarus and Russia have to create common markets of oil, oil products, natural gas, electricity, and transport by 1 January 2022 in addition to unifying tax and customs regulations. Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Vladimir Semashko made the statement after wreaths were laid at the Tomb of the Unknown Soldier in Moscow on 28 June in anticipation of Belarus’ Independence Day and the 77th anniversary of Belarus’ liberation from the Nazi invaders, BelTA has learned.

According to Vladimir Semashko, Belarus and Russia have reached a totally new stage. A lot has already been done in the social sphere, economy, defense, and so on. “Today we have really reached the time when we have to bolster the economic foundation of the union of Belarus and Russia,” he said.

The official reminded that the sides are about to finish work on 28 integration maps. It is necessary to promptly create a common market of oil, oil products, a common market of natural gas, a common market of electricity, a common transportation market, enforce a unified industrial and agricultural policy, and unify the tax and customs regulations literally by 1 January 2022, the ambassador stressed. “In other words, we have to create an economic base that will be necessary and important for Belarus and Russia,” he said.

According to the source, Belarus is a small country but it is a significant economic partner of Russia and is ranked fourth among Russia’s trading partners. The official said that in January-May 2021 Belarus-Russia trade rose by 30% in comparison with the same period of last year, with Belarus’ export to Russia up by 20.8%.

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