Eurasian Fund to withhold $200 mln loan without integration with Russia

First integration, then money. Eurasian Development Bank said that Belarus would not receive $200 million – this is the last, seventh tranche of the $2 billion loan from the Eurasian Fund for Stabilization and Development, managed by Russia. BelaPAN agency citing a source in the financial community said that Moscow directly links this money to the political agreements.

“Work is currently underway on a program to deepen integration with Russia. Only after its signing is the Russian side ready to move on to the discussion of other issues, including those related to the financing of Belarus,” said a source of BelaPAN in financial circles.

The issue of money has been directly related to the integration by the Russian Finance Minister, although Anton Siluanov spoke about another loan of $600 million. Deputy of Siluanov, Sergei Storchak, said in a special letter that Belarus should switch to the Tax Code of Russia, otherwise there would be no compensation for the tax maneuver with Russian oil.

“Taxes are the main instrument of income generation by the Belarusian state. And now, in fact, Belarus can hand over the regulation of this very important area to another state. In fact, everything in the tax sphere will have to be coordinated with Russia,” says Director of the Center for European Transformation Andrei Yahorau.

Photo: Alexander Astafyev / POOL / TASS / Forum