BELARUS NEWS AND ANALYSIS

DATE:

22/02/2007

Belarus asks for $1.5 bln stabilization loan from Russia

MINSK, February 22 (RIA Novosti) - Belarus's government has requested a $1.5 stabilization loan from Russia, the Finance Ministry said.

The two countries were embroiled in an energy dispute earlier this year after Russia doubled the price of gas to $100 per 1,000 cubic meters. In response, Minsk introduced a transit levy of $45 per metric ton for Russian crude oil pumped to Europe via Belarus.

"The decision was made as a result of additional budget expenses in the wake of dramatic price hikes for Russian energy supplies," the Belarusian ministry said but declined to set any possible deadline for the loan.

"The final sum of the loan and its timeframe will depend on Russia," the ministry said.

Source:

http://en.rian.ru/russia/20070222/61132272.html