Belarus ties domestic gas prices to dollar's rate on date of payment
MINSK. April 21 (Interfax) - The Belarusian Economic Ministry, through decree N53 signed on April 7 and backdated to March 17, has tied domestic gas prices to the rate of the Belarusian ruble against the U.S. dollar on the date of payment.
Prices for natural gas produced for domestic consumption in Belarus will be set by a formula, effective March 17, that factors in the difference between the National Bank's exchange rate on the date of payment and the rate on the date of the Economic Ministry's ruling for gas prices.
The Economic Ministry of Belarus issued decree N24 in mid-March, which applies indexation on domestic prices gas, heat and electricity based on the different between the rates on the date prices were set and the date of shipment.
Therefore, the ministry has expanded the temporary corridor for the ruble's rate against the dollar factored into domestic prices.