24 Apr 2018 15:50

Oil primary cause of sanctions against major exporters, including Russia - Lukashenko

MINSK. April 24 (Interfax) - Oil is the main reason for which sanctions have been imposed on the major oil exporting countries, Belarusian President Alexander Lukashenko said.

"Oil is the root cause of the sanctions against the major countries exporting this commodity, such as Russia, Iran, and Venezuela," Lukashenko said in an annual address to the nation and the National Assembly in Minsk on Tuesday.

"However, it is important for the influential global players today not only to control its production and supplies. Oil is becoming the most efficient tool for manipulation and pressure on the supply and the demand fluctuations," he said.

Volatility that is produced so on global markets affects any country and any economy, he said.

"And this doesn't enable countries depending on black gold [oil] to plan long-term development strategies. And Belarus is not an exception here," Lukashenko said.