Russia officially granted Belarus a deferral on the payment of approximately $250 million in loans previously issued to Minsk. The relevant agreement was ratified by the State Duma and the Federation Council.
Illustrative photo. Photo: «Nasha Niva»
The document itself was signed in the summer of 2025: June 27 — in Minsk, and June 30 — in Moscow. As explained by Russian Deputy Finance Minister Vladimir Kolychev, this refers to the transfer of payments, so the agreement required approval by the Russian parliament. The total amount of deferred payments is approximately $250 million.
According to the terms of the document, Belarus gained the opportunity to postpone the repayment of the principal debt on Russian loans for the period from 2032 to 2037. Earlier, in March last year, Russia had already allowed Minsk to defer payments of approximately another $800 million.
In July last year, the now former Minister of Finance of Belarus, and now Ambassador to Russia, Yuri Seliverstov, during a trip to Russia, reported that issues of refinancing old debts, as well as attracting new loans for investment projects, were discussed with the Russian side. According to him, cooperation between the two countries is conducted constantly and in a close format.
According to the budget of Belarus for 2025, the external state debt limit was set at $19.2 billion equivalent. For the repayment of internal and external state debt, it was planned to allocate 10.6 billion Belarusian rubles, and for its servicing — about 4.7 billion.
According to the National Bank, as of July 1, 2025, the country's external debt amounted to 46% of GDP. In monetary terms, gross external debt increased by $2.7 billion in the first half of the year, reaching $37.7 billion.
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