Belarus reaches agreement with Russia on oil refining terms - PM

MINSK. Oct 15 (Interfax) - Belarus has completed talks with Russia on the terms for oil refining to ensure that local refineries can operate effectively, Belarusian Prime Minister Alexander Turchin told reporters after a meeting with Belarusian President Alexander Lukashenko.

"Just today, we have completed a challenging six-month effort with our Russian partners to establish the terms for this sector's operation in the medium term. The terms are mutually beneficial and will enable our oil refineries to operate efficiently," the state BelTA news agency quoted Turchin as saying.

He said the sector's performance was also considered in the context of the oil products market situation in neighboring countries. "The situation in our domestic market regarding the supply of oil products is stable and that there simply cannot be any disruptions," he said.

The agreements with Russia are for the medium term.

Measures already taken by the government during this period have yielded "significant economic benefits for domestic enterprises, with the effect amounting to several hundred million dollars," Turchin said.