OREANDA-NEWS Private investors have called on the Russian authorities to limit the volume of state lending to Belarus and stop issuing loans due to non-payment by Minsk on previously issued Eurobonds. This is reported by RBC with reference to the corresponding letter addressed to the Deputy Minister of Economic Development of the Russian Federation Dmitry Volvach.

The initiator of the appeal was Alexander Marchenkov, who had previously sued the Belarusian Ministry of Finance over payments on Eurobonds. His call to limit state lending to a neighboring country was supported by a total of 200 individuals and 30 organizations. The addressees of the appeal were the Ministries of Finance of Russia and Belarus, as well as the Central Bank. In the future, investors intend to seek justice on this issue in the London International Arbitration (LCIA). In the letter, the investors asked Volvach "to take measures for the speedy fulfillment by Belarus of its obligations to all Russian investors." They are concerned about the fact that they cannot receive payments on Eurobonds from the summer of 2022. Before fulfilling its obligations on this issue, the initiative group of investors called on the authorities "to recognize the Ministry of Finance of Belarus as an unscrupulous borrower as soon as possible and restrict access to the Russian capital market for it."

Earlier, RBC, with reference to the draft law on the federal budget for 2024-2026, announced the intention of the Russian authorities to issue state loans to other countries totaling 1.4 trillion rubles — an average of 5.2 billion annually over the next three years. As explained in the Ministry of Finance, such a volume of funds is necessary to fulfill obligations under intergovernmental agreements, complete existing projects and support domestic exports.