3-Jan-10 (FT) Russia has stopped shipments of oil to Belarus following a dispute about pricing, oil traders said on Sunday.
The move will set off alarm bells in Europe, triggering memories of last January’s natural gas war between Russia and Ukraine that left several eastern European cities without gas for days. Oil, however, is more fungible than gas, and easily made up with alternative suppliers, so the consequences of the dispute are unlikely to be as severe.