Russia lends 500 million to Belarus – Economy

Russia lends 500 million to Belarus - Economy

Russia will loan US $ 500 million to neighboring country Belarus (around € 410 million) at a time when the European Union and the United States are preparing to impose sanctions on the Alexander Lukashenko regime. Belarusian Governance, Financial Times reports.

The financing for Belarus was decided after a summit between two heads of state, Vladimir Putin and Alexander Lukashenko, in Sochi this Saturday. After several airlines stopped flights to Belarus, Putin also agreed to increase the number of air connections between the two countries.

Putin has proved himself to be an associate of Lukashenko in the face of tight positions in the European Commission and Joe Biden’s US administration. In fact, in Sochi, the Russian president, along with his Belarusian counterpart, made sure to include a ferry trip across the Black Sea to the summit’s agenda.

European Commission has banned the Belarusian state airline Airports in 27 member states have undertaken additional sanctions against the country of Belavia and Lukasheco. Biden announced on Friday that the United States would again impose sanctions against nine Belarusian public companies.

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About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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