- Sputnik International
Russia
The latest news and stories from Russia. Stay tuned for updates and breaking news on defense, politics, economy and more.

Russia says Eurasec could lend Belarus $500 mln

Russia says Eurasec could lend Belarus $500 mln
Russia says Eurasec could lend Belarus $500 mln  - Sputnik International
Subscribe
Russian Finance Minister Alexei Kudrin suggested on Tuesday that Eurasec's anti-crisis fund could be used to grant Belarus a $500 million loan.

MOSCOW, June 9 (RIA Novosti) - Russian Finance Minister Alexei Kudrin suggested on Tuesday that Eurasec's anti-crisis fund could be used to grant Belarus a $500 million loan.

Russia has said it will contribute $7.5 billion to the Eurasian Economic Community (Eurasec) anti-crisis fund, which member states agreed to set up at a recent summit in Moscow.

The minister said "all options are on the table" on the issue of loans to Belarus, and that the anti-crisis fund would be created within the next two months.

Belarus earlier refused to accept a $500 million loan denominated in Russian rubles, asking for U.S. dollars.

In late May, Kudrin criticized Belarusian economic policies, saying that the ex-Soviet republic was spending too much of its gold and foreign currency reserves to keep the exchange rate stable.

After the dispute over the loan, Belarusian President Alexander Lukashenko told his Cabinet ministers to resist Russian pressure and to seek partners in other countries.

Last year, Lukashenko secured a $2 billion loan from Russia to help the economy through the financial crisis, and a deal to receive Russian natural gas at a subsidized rate. Belarus received the first $1 billion in November 2008. In March 2009, the country received another $500 million.

However, relations between Moscow and Minsk have been strained in recent years, largely due to Russia raising its gas price.

The $10 billion Eurasec anti-crisis fund is being established to counter problems in economies and financial markets of member states.

The Eurasian Economic Community, established in 2000, comprises Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. Three other former Soviet republics - Armenia, Moldova and Ukraine - have observer status.

 

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала