Reuters reported that Belarus is to start paying arrears for Russian gas shipments next month and complete the process by the end of the year.

Mr Vladimir Semashko first deputy PM of Belarus addressing parliament as part of a government report on its activities said that debts for gas shipments totaled $230 million as of July 1. Russian giant Gazprom cited the same figure this month when demanding payment of arrears.

He said that “We are saying that from July 1 we will start paying off debts that have accumulated.” He also said that Belarus was proposing moving to European-level prices from 2014, not from 2011 as previously proposed by Russia.

(Sourced from Reuters)