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Lukashenka Fears That Russian Banks Will Withdraw Capital

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Lukashenka Fears That Russian Banks Will Withdraw Capital

Experts explained why the governor reminded the chairman of Vnesheconombank of the fate of the former head of "Uralkali".

On December 8, at the meeting with the head of the Russian state corporation " Bank for Development and Foreign Economic Affairs" Sergei Gorkov, Lukashenka not only promised to provide support to th work of Vnesheconombank, but also warned on the need to fulfill agreements.

– Those who didn't listen to me once (I can name three such companies without thinking – Uralkali and others ) have collapsed, other people are working there. Those who listened to me, we protected them, supported. And no one can influence us in this regard: neither Russian nor American leadership. Agreements are set in stone. They must be fulfilled, – Lukashenka's press service quotes the dictator.

Vnesheconombank group includes OJSC "Bank BelVEB" (Vnesheconombank 's share in the authorized capital is 97.5%).

Vnesheconombank and OJSC "Bank BelVEB" are agent banks for $ 10 billion export credit granted for the construction of the Belarusian nuclear power plant. As Zavtra Tvoej Strany reminds, it has become known in November, that the NPP construction cost and the NPP's in-service terms will raise.

The political analyst Ales Logvinets thinks that the way the ruler communicates with the head of Vnesheconombank indicates that only one person should be contacted on any issues – Aliaksandr Lukashenka.

He doubts that the situation will go as far as to the withdrawal of Russian banks' capital from Belarus in the foreseeable future. He cites Ukraine as an example, which relations with Russia being far more strained haven't led to serious confrontation in the banking sector.

– I don't think that the tension in the oil and gas sector could spread onto the banking sphere. At least, not in the nearest future, – the expert says.

On the other hand, Logvinets emphasizes, such development of events is difficult to predict, as we see only some of the manifestations of tension in relations between the two countries. Most of the negotiations and arguments happen behind closed doors.

Speaking about the NPP, which is being constructed near Astravets at the loaned money, the political expert stressed:

– This construction is the decision of the Russian government. Vnesheconombank supports Russian authorities. Russia has an obvious interest here, since it understands that the NPP can be used to blackmail Lithuania and the EU. The nuclear power plant also increases the dependence of Belarus, since it rises such issues as additional money for the construction, fuel and its subsequent recycling.

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