The IMF warned Minsk last November that it better have a “Plan B” ready if it could not persuade Moscow to pay it compensation for a change in the way oil exports are taxed. It's got one.
Russia has suspended allocation of loans to Belarus for a total amount of $600mn, according to Belarusian Finance Minister Maksim Yermolovich.
The transit of Russian oil via Druzhba pipeline has not yet been resumed due to persisting technical problems in Poland and Germany, Vedomosti daily and Reuters reported on May 21 citing unnamed market sources.
The foreign exchange reserves of Belarus increased by $322.7mn, or 4.5% month-on-month, to $7.6bn in April following a 2.1% m/m growth in March, the National Bank of Belarus (NBB) said in a statement on May 4.
The Belt and Road Initiative (BRI) is no less than an attempt by the Chinese to reshape the international order, but it has acted as a strategic opportunist and has no clear development plan.