Russia Won’t Grant $1.5 Billion Credit to Belarus

Belarus is in negotiations with Russia on receiving a stabilization credit of $1 billion, told first vice prime minister of Belarus Uladzimir Syamashka to journalists on Thursday.

According to earlier reports, Belarus asked Russia to grant a stabilization credit of $1.5 billion. Thus the sum of the credit had been reduced by $500 million.

As said by Syamashka, stabilization credit would allow Belarus to pay for deliveries of Russian energy resources in full.

“We do not conceal that because of hike in price for energy resources Belarusian economy has got into a very difficult situation: gas prices have grown by more than two times. Even considering price range, price has grown by 20-25% because of higher import dues and a necessity to divide export duties for oil,” he said.

Last week Russian Prime Minister Mikhail Fradkov said that the issue of granting stabilization credit to Belarus would be settled quickly.