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Lukashenko suggests swapping Belarus companies stock for Bashneft shares

November 17, 2016, 15:22 UTC+3 MINSK
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President of Belarus Alexander Lukashenko

President of Belarus Alexander Lukashenko

© Artyom Korotayev/TASS

MINSK, November 17. /TASS/. Belarus made a proposal to Russian leaders to swap shares in Belarus companies for a stake in the Russian oil producer Bashneft, President of Belarus Alexander Lukashenko said on Thursday at a press conference for Russian regional mass media.

"Privatization of Bashneft has taken place recently; we sent an offer to your leaders. Let us swap shares [in Belarus] companies, provided that they will improve performance, for Bashneft shares. No response. It means they do not want to do so," Lukashenko said.

Lukashenko noted he is reproached for being reluctant to privatize for Belarus companies. Russians are interested in buying Minsk wheel skidders plant, Integral company and certain space industry firms. "I say, you have interest in these companies, you want to buy them, while I am interested in oil production [in Russia - TASS]. We may produce ourselves 7-8-10 mln tonnes of oil and supply them to Belarus," the President of Belarus said.

This will be "proper and good," Lukashenko said. "These must be projects bringing together instead of pushing off," he added.

Belarus is currently upgrading its refineries and the conversion ratio will soon reach 90%, the President of Belarus said. "Not a single Russian refinery has such a conversion ratio," he said.

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