Ukraine reduces foreign currency spending on fuel imports

In the ten months, 6.46 million tonnes of oil products were imported into Ukraine.

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Ukraine reduced foreign currency spending on fuel imports in January-October 2020, to US$2.77 billion, which was 36.7% down year-on-year.

Fuel imports from Russia alone totaled US$1.01 billion, which accounted for 36.4% of overall spending on the imports, Ukraine's State Customs Service said on its website.

Fuel imports from Belarus amounted to US$963.3 million (34.7%) and from Lithuania to US$332.1 million (12%).

Over the reporting period, US$467 million worth of fuel was imported from other countries.

In the ten months, 6.46 million tonnes of petroleum products was imported into Ukraine, which was 7.2% less than in the 10 months of 2019 (6.95 million tonnes).

Background

Foreign currency spending on imports of petroleum products into Ukraine in 2019 decreased by 6.7%, to US$5.315 billion, while shipments of fuel from abroad in 2018 grew by 31%, to US$5.5 billion.

Ukraine in January-February 2020 spent US$680.89 million on imported fuel, which was 10.8% down on year.

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