Lukashenka is leading Belarus directly in the Eurasian Economic Union

The Belarusan leader gave up his plan to block the signing of the EEU Agreement, voiced on May 3.

Belarusian President Aliaksandr Lukashenka says he won’t block the signing of a deal creating a Eurasian Economic Union after resolving a dispute with Russia over oil product duties.

Summing up the results of the meeting with Vladimir Putin that took place on May 8 in Moscow, Aliaksandr Lukashenka stressed that the sides had managed to come to terms on all issues. Among other things the issue of selling Belarus-assembled cars on the Russian market was settled. The issue of road carriers was also settled.

Belarus and Russia have also come to terms regarding the gradual annulment of export duties on oil products, which have to be transferred to the Russian state budget for now, BelTA quotes Aliaksandr Lukashenka saying. “We will gradually lift them. Next year Belarus will keep about half of the sum. As from 2016 I believe we will deal with the second part, too,” said the President.

Let us recall that earlier Lukashenka threatened to block the signing if some current restrictions in trade, including petroleum product duties, were not removed.

However, on May 9, Lukashenka said the Kremlin had agreed to give Belarus a $2 billion loan this month, adding that around $2 billion in duties on petroleum products would stay in Belarus next year. Minsk already received a Russian loan of $450 million in January, RFE/RL informs.

 “We have agreed that the Russian Federation will transfer $2 billion to us like it had been promised,” Lukashenka said, stressing that these credit resources will be used to replenish the gold and foreign exchange reserves.

At that, Belarus is not going to block the signing of the treaty to establish the Eurasian Economic Union, the President emphasized. “We are not going to block the signing of this treaty. If we cannot make a leap forward, we should move on in small steps. We believe in it,” Belsat quotes Lukashenka saying.

Earlier EuroBelarus Information Service informed that the agreement on creation of the Eurasian Economic Union based on the Customs Union, which currently consists of Belarus, Kazakhstan and Russia, is scheduled for May 29.