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Negotiations on to supply crude, refined oil to Bangladesh: Russian ambassador

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Negotiations on to supply crude, refined oil to Bangladesh: Russian ambassador

BANGLADESH

TBS Report
24 August, 2022, 05:00 pm
Last modified: 24 August, 2022, 10:22 pm

File photo of Russian Ambassador to Bangladesh Alexander Mantytskiy. During his tenure as the Russian ambassador to Afghanistan he speaks during a news conference at the Russian embassy in Kabul, Afghanistan, April 25, 2016. Photo: REUTERS

File photo of Russian Ambassador to Bangladesh Alexander Mantytskiy. During his tenure as the Russian ambassador to Afghanistan he speaks during a news conference at the Russian embassy in Kabul, Afghanistan, April 25, 2016. Photo: REUTERS


File photo of Russian Ambassador to Bangladesh Alexander Mantytskiy. During his tenure as the Russian ambassador to Afghanistan he speaks during a news conference at the Russian embassy in Kabul, Afghanistan, April 25, 2016. Photo: REUTERS

Russia is now negotiating with Bangladesh for exporting crude and refined oil to the latter, said Russian Ambassador to Bangladesh Alexander Mantytskiy on Wednesday.

Both from government and private levels, the two countries are also in talks over Bangladesh's infrastructure modernisation, the ambassador also said at a roundtable titled "Six Months of the special military operation in Ukraine: Its results and perspectives on Russia-Bangladesh relations in the context of the economic crisis".

The Russian Embassy in Dhaka and Sputnik news agency and radio arranged the discussion.

The ambassador said the plots of Washington and its allies have not shattered Bangladesh-Russia fruitful cooperation in the energy sector. The construction of the Rooppur nuclear power plant is being carried out without hindrances and according to the schedule.

Just recently, Gazprom International Investments BV has launched drilling of a new well in the gas fields of Bhola Island. Exploration of two wells is expected to begin this year, he noted.

"This initiative will contribute to exploring the own mineral resources of Bangladesh and consolidating the energy security of the country," he added.

The negotiations are going on between Moscow and Dhaka to resume wheat purchase on a government-to-government basis through the direct procurement method. At the initial stage, the possibility to deliver 2-3 lakh tonnes of Russian grain will be elaborated on.

The Russian side also stands ready to supply potash fertilisers according to the previously-signed contract, as the American sanctions no longer cover non-organic fertilisers and other essential food products, he also said.

Besides, there is a growing interest in Russia to procure Bangladeshi medicine and agricultural products. Therefore, in March all restrictions, imposed by the Russian phytosanitary authorities on supplies of potato from your country, were lifted. The first lot of local mangoes was delivered to the Russian Federation, he noted.

The Russian ambassador said in spite of the widespread delusion that all Russian banks came under sanctions, there are only 14 financial institutions that cannot provide services to the Bangladeshi partners due to the economic restrictions.

The bilateral trade operations are being carried out successfully through the other Russian banks not affected by the Western restrictions, he continued.

Moreover, the Central Bank of the Russian Federation and the Bangladesh Bank remain in close contact discussing the ways to open correspondent accounts.

He said the Russian Federation, as a responsible participant of world trade, intends to continue fulfilling its obligations under international commitments in terms of exporting agricultural products, fertilisers, oil, oil products and other vital items.

"We are deeply concerned about a possible food crisis and are well aware of the importance of supplying essential goods for the social and economic development of Bangladesh and other countries of Asia, Africa, Latin America and the Middle East."

To these ends, Russia agreed to ensure unhindered export of Ukrainian grain from the ports of the Black Sea. However, the practical implementation of this agreement demonstrated that the main commodity flows were directed from Ukraine to Europe, not to developing countries that need those most of all, he pointed out.

Stability of the global food, energy and financial markets could be restored only through reducing transportation and logistical tensions, ensuring unhindered supplies. There is the only way to achieve it: the real abolition of all unilateral coercive measures imposed by the Western countries, the ambassador said.

He said the US imposed sanctions, not Russia, are responsible for the economic crisis that is going on in the world, including Bangladesh after Russia's military operation.

"So do not blame us," he said.

He also noted that the US-led unipolar world leadership has now turned into a multipolar world order led by Russia, China, India and other countries.

The Russian ambassador said it is important to bolster the positions of the UN and other international dialogue venues. The UN Security Council and the General Assembly, as it was initially conceived, should serve as effective instruments to decrease international tension and prevent conflicts, while working to guarantee reliable security and the well-being of all countries and peoples, the ambassador concluded.

 
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Published on 09:01 PM, August 24, 2022

Bangladesh in discussions with Russia to procure fuel: Envoy​

Talks ongoing to see if dollar can be replaced in bilateral trade


BPC plans to import diesel from Russia

Models of oil barrels and a pump jack are displayed in front of Ukrainian and Russian flag colors in this illustration taken, February 24, 2022. Photo: Reuters

Star Digital Report

Bangladesh is in discussions with Russia to procure crude and refined oil, Russian Ambassador to Bangladesh Alexander Mantytskiy said today.

"A number of initiatives regarding the supply of Russian crude and refined oil are being discussed both at the intergovernmental and business-to-business levels," the envoy told a media briefing at the Russian Embassy in Dhaka.

He said samples of Russian crude oil will be made available to Bangladeshi experts to find out whether that can be refined here.

Also, primary discussions have started to explore the mechanisms to replace dollars in bilateral trade between the two countries, he said, adding: "I have recently met the Governor of Bangladesh Bank to discuss the issue."

With major logistical obstacles being removed, the negotiations are ongoing between Moscow and Dhaka to resume wheat purchase on a G-to-G basis through the direct procurement method.

Bangladesh considering import of Russian oil via third country


Mutual efforts of the two countries made it possible to increase the bilateral turnover manifold. In 2021, it reached an all-time high of almost USD 3 billion, he mentioned.

About the impact of the Ukraine war on bilateral trade he said, the Russian-Bangladeshi business relations are going through another challenging time with the Western sanctions, but Russian and Bangladeshi companies are getting accustomed to the new reality.

Some of them are using alternative transportation routes to continue mutually beneficial trade. A large amount of items have been delivered by air, he said.

On August 1, a Russian cargo ship reached the port of Mongla for the first time since the beginning of the special military operation, thus marking the restoration of trade through waterways, he mentioned.

"As a result, even in the first quarter of 2022, the turnover between our two countries amounted to a solid volume of USD 650 million, which is only slightly less than during the same period of 2021."

Draw up plans to buy Russian oil


In spite of the widespread delusion that all Russian banks came under sanctions, there are only 14 financial institutions that cannot provide services to the Bangladeshi partners due to the economic restrictions.

The bilateral trade operations are being carried out successfully through other Russian banks not affected by the Western restrictions, Alexander Mantytskiy said, adding that the Central Bank of the Russian Federation and the Bangladesh Bank remain in close contact discussing the ways to open correspondent accounts.

Regarding the energy sector cooperation, he said the construction of the Rooppur Nuclear Power Plant is being carried out without hindrance and as per schedule.

Only on August 19, Gazprom International Investments BV has launched drilling of a new well in the gas fields of Bhola island.

Exploration of two more wells is expected to begin this year.

He assured that the Russian side stands ready to supply potash fertilisers according to the previously signed contract, as the American sanctions no longer cover non-organic fertilizers and other essential food related goods.

"Besides, there is a growing interest in Russia to procure Bangladeshi medicine and agricultural products," Alexander Mantytskiy said.
 
.
Published on 09:01 PM, August 24, 2022

Bangladesh in discussions with Russia to procure fuel: Envoy​

Talks ongoing to see if dollar can be replaced in bilateral trade


BPC plans to import diesel from Russia

Models of oil barrels and a pump jack are displayed in front of Ukrainian and Russian flag colors in this illustration taken, February 24, 2022. Photo: Reuters

Star Digital Report

Bangladesh is in discussions with Russia to procure crude and refined oil, Russian Ambassador to Bangladesh Alexander Mantytskiy said today.

"A number of initiatives regarding the supply of Russian crude and refined oil are being discussed both at the intergovernmental and business-to-business levels," the envoy told a media briefing at the Russian Embassy in Dhaka.

He said samples of Russian crude oil will be made available to Bangladeshi experts to find out whether that can be refined here.

Also, primary discussions have started to explore the mechanisms to replace dollars in bilateral trade between the two countries, he said, adding: "I have recently met the Governor of Bangladesh Bank to discuss the issue."

With major logistical obstacles being removed, the negotiations are ongoing between Moscow and Dhaka to resume wheat purchase on a G-to-G basis through the direct procurement method.

Bangladesh considering import of Russian oil via third country


Mutual efforts of the two countries made it possible to increase the bilateral turnover manifold. In 2021, it reached an all-time high of almost USD 3 billion, he mentioned.

About the impact of the Ukraine war on bilateral trade he said, the Russian-Bangladeshi business relations are going through another challenging time with the Western sanctions, but Russian and Bangladeshi companies are getting accustomed to the new reality.

Some of them are using alternative transportation routes to continue mutually beneficial trade. A large amount of items have been delivered by air, he said.

On August 1, a Russian cargo ship reached the port of Mongla for the first time since the beginning of the special military operation, thus marking the restoration of trade through waterways, he mentioned.

"As a result, even in the first quarter of 2022, the turnover between our two countries amounted to a solid volume of USD 650 million, which is only slightly less than during the same period of 2021."

Draw up plans to buy Russian oil


In spite of the widespread delusion that all Russian banks came under sanctions, there are only 14 financial institutions that cannot provide services to the Bangladeshi partners due to the economic restrictions.

The bilateral trade operations are being carried out successfully through other Russian banks not affected by the Western restrictions, Alexander Mantytskiy said, adding that the Central Bank of the Russian Federation and the Bangladesh Bank remain in close contact discussing the ways to open correspondent accounts.

Regarding the energy sector cooperation, he said the construction of the Rooppur Nuclear Power Plant is being carried out without hindrance and as per schedule.

Only on August 19, Gazprom International Investments BV has launched drilling of a new well in the gas fields of Bhola island.

Exploration of two more wells is expected to begin this year.

He assured that the Russian side stands ready to supply potash fertilisers according to the previously signed contract, as the American sanctions no longer cover non-organic fertilizers and other essential food related goods.

"Besides, there is a growing interest in Russia to procure Bangladeshi medicine and agricultural products," Alexander Mantytskiy said.

Buy oil for undies.

Don’t even need currencies.
 
.
Buy oil for undies.

Don’t even need currencies.


Two ways:

1. Barter trade as BD does almost 1 billion US dollars of exports to Russia every year.

2. Start accepting Chinese Yuan for BD exports to China and then use the Chinese currency to buy Russian oil.


The above two will allow BD to purchase 2 billion US dollars of Russia crude over a year.
 
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