Regions

Rosneft continues business in Belarus despite diplomatic row

September 14
1:38 PM 2013

The head of Russian oil giant Rosneft, Igor Sechin, said it is drafting energy projects in Belarus. This was reported by the Russian media last Saturday.

This was another sign that an ally of Kremlin would not let a minor potash dispute derail the Russian state oil firm's business interests in the East European country. Last Juy, the potash trading arrangement between the two countries culminated in diplomatic word war and the eventual arrest of the head of Uralkali, the Russian fertilizer firm in Belarus.

Despite this row, Sechin is committed to retain its large business footprint in the country where there is a large market for Russian energy firms because of a standing export tax waiver for Russia's benefit.

Sechin was quoted by RIA Novosti news agency as saying, "Of course we have plans (in Belarus) - there is talk of oil projects and of oil and gas projects." When queried about the potash disagreement and the company's business plans, Sechin added, "It oesn't affect us... we have stable, normal partners."

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