Belarus is discussing the possibility of attracting additional funding from Russia.

This was announced by the Minister of Finance of Belarus, Yuri Sileverstov, The Moscow Times reports .

According to Sileverstov, the money is needed in particular for the Belarusian budget , which this year is facing a deficit of 4.5 billion Belarusian rubles, or 1.6% of GDP.

In addition, Sileverstov said, Belarus would like to attract loans to support the country’s oil refining industry and other investment projects .

“We are actively cooperating on financing both investment projects and direct financing. These are the issues being discussed,” he said.

Sileverstov did not specify what amounts were involved.

According to the World Bank, Belarus was Russia’s largest debtor in 2023 , accounting for $8.2 billion in interstate loans issued by the Kremlin. This is more than a quarter of the total amount of foreign debt to Russia, which the World Bank estimated at $28.9 billion.

In March 2025, the Russian State Duma ratified an agreement with Belarus on a major deferral of repayment of accumulated debt , payments for which were to begin this year. Under the new terms, Belarus will be able to postpone payments to 2031-2036. In total, about $800 million of Belarus’ debt falls under the agreement.

The decision to postpone payments was made on the instructions of Russian President Vladimir Putin and is related to the need to “reduce the payment burden on the budget of the Republic of Belarus.”

In November 2022, Russia and Belarus signed an intergovernmental agreement to provide the Belarusian side with a loan of 105 billion Russian rubles for import substitution projects. The Russian Federation is already Belarus’ largest creditor.

In 2023, Russian investors asked the Russian government to restrict the provision of loans to Belarus , as well as access to the Russian capital market due to the refusal to repay debt on previously issued Eurobonds.

In July 2025, the Foreign Intelligence Service of Ukraine reported that the self-proclaimed President of Belarus, Alexander Lukashenko, cannot stop the gradual degradation of the country’s economy . In an attempt to curb inflation, the Belarusian authorities are once again resorting to administrative price regulation, while accelerating the issuance of cash – one of the key inflationary factors.

Author:  Halyna Yalivets Джерело: https://censor.net/n3565135

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