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article imageBelarus threatens to suspend Russian oil, gas amid debt row

By Andrew Moran     Jun 25, 2010 in Business
Minsk - The government of Belarus threatened that it would cut off Russian oil and gas supplies to Europe if the Russian energy giant Gazprom didn't pay its $260 million debt but the company has denied that it owes such money.
On Friday, Belarus President Alexander Lukashenko threatened to cut off any Russian oil and gas supplies to European nations like Germany, Lithuania and Poland if the Russian energy giant Gazprom did not pay off its $260 million debt that it allegedly owes for transit fees, according to Xinhua. The Belarusian President gave Russia two days.
“I once again warn the government: Gazprom's failure to fully pay for services in the next two days must lead to a halt of any services on the shipment of hydrocarbons -- both oil and gas -- for Russia,” said Lukashenko. “You have the opportunity -- come to an agreement. But you have two days.”
Press TV reports that Gazprom did issue a statement on the same day denying any such debt in transit fees in accordance to the agreements of the contract. However, it did agree, in future negotiations, to pay higher transit fees in a new contract.
Since Tuesday, the “gas war” between the two nations intensified because the Russian Federation decreased its gas supplies by 35 per cent and then the next day slashed it by 60 per cent due to its alleged default of $200 million debt.
According to Reuters, Gazprom CEO Alexei Miller said in a news conference on Friday that the dispute between the countries was over and that there are no serious issues to deal with anymore.
“I believe that the gas war with Belarus is over. I do not see any problem issues that could get in the way of the signing of this amendment
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