OREANDA-NEWS. June 22, 2011. Belarus has reached a preliminary agreement to borrow USD 1 billion from Uralkali with repayment in future potash deliveries at fixed prices. The matter was discussed during negotiations that Uralkali co-owner Suleiman Kerimov held in Minsk on Wednesday, a source close to the negotiations told.

“The talks were over the possible sale of a shareholding in Belaruskali to Uralkali, and alongside that agreement, a preliminary arrangement was reached to borrow USD 1 billion from Uralkali against future potash supplies at fixed prices,” the source said.

He said the loan was worth about six months’ worth of Belaruskali’s operation.

Late on Wednesday, BelTA news service reported with reference to the head of the Presidential Administration, Vladimir Makei, that Belarus had found “an additional USD 1 billion besides the EurAsEC loan… and the money will be received shortly”

Reportedly, Uralkali reached an agreement to buy 50% plus one share in Belaruskali for USD 15 billion.