Belarus suspends transit of oil products through Klaipeda

Belarus temporarily suspends transshipment of oil products through the Klaipeda state port of Lithuania on the Baltic Sea. This was announced on Tuesday by the Lithuanian state company Klaipedos nafta.

“The company BNK (UK) Limited (Great Britain), owned by the largest Belarusian exporter” Belarusian Oil Company “(BNK), notified us of the temporary suspension of trade in petroleum products, which is conducted through the oil terminal in the port of Klaipeda,” the words of the commercial director of Klaipedos are quoted in the message nafta of Mindaugas Navikas. Products previously sold by Belarusian partners, as the director noted, will be reloaded in the usual manner.

BNK indicated that it will inform when the export will be resumed in full. However, if the uncertainty drags on, it could affect next year’s results.

According to Navikas, this decision of Belarus is conditioned by political motives. “We understand that the client’s decision is most likely dictated not by economic, but by political logic, which we cannot influence,” he said. “From an economic point of view, the use of the infrastructure of the Klaipeda port for the export and import of Belarusian oil products is most beneficial”

“The company is making every effort to quickly find out the specific need for services for the client for 2021 and properly prepare for any scenario of activity,” notes Klaipedos nafta.

Klaipedos nafta has been cooperating with partners in Belarus for over ten years.

In the first nine months of this year, Klaipedos nafta received 23.7 million euros in revenues from the loading of oil products (last year – 23.9 million euros) and 6.7 million euros in adjusted net profit (7 million euros).

At the end of August, President of Belarus Alexander Lukashenko announced that Belarus will stop using Lithuanian ports to export its products – mainly potash salt and oil products are exported through them.

In early October, he threatened to “tackle” the flow of goods from Lithuania and Latvia. In addition, A. Lukashenko said that Belarus and Russia are now discussing the reorientation of Belarusian cargo (oil products, potash fertilizers and other goods) from the ports of the Baltic countries to the Russian port in Ust-Luga.

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