×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

EU Pressure Ups Belarus Bond Yields

Belarussian bond yields rose after European Union countries began to pull their ambassadors out of the country in the former Soviet nation's worst diplomatic crisis since 2008, when the U.S. envoy was expelled.

The yield on Belarus' 7 billion Russian rubles ($239 million) of bonds due December this year jumped 32 basis points, or 0.32 percentage points, to 12.11 percent, the most since Jan. 30.

Dollar-denominated notes maturing in 2018 fell, sending the yield up four basis points to 10.624 percent, the highest on a closing basis in almost four weeks. The yield on dollar-denominated Belarussian bonds maturing in 2015 jumped 5 basis points to 10.666 percent Thursday, the most since Feb. 7.

The EU on Feb. 27 added 21 officials to a list of more than 200 people it holds responsible for political repression in Belarus, freezing their assets and banning them from entering the trading bloc. Minsk responded by pulling back diplomats from Brussels and Warsaw, prompting a cutback of Western diplomatic presence in Minsk.

The visa ban list includes one businessman, Vladimir Peftiyev, head of weapons exporter Beltechexport. A protest by Slovenia prevented the EU from targeting Yury Chizh, owner of the holding company Triple, which is involved in industries ranging from oil trade and construction to retail and pharmaceuticals.

Slovenian construction company Riko Group won a $100 million contract to construct a five-star Kempinski hotel in the center of Minsk, the group said on its website Feb. 20. Elite Estate, part owned by Triple, will provide half of the financing, Riko said.

"I hope that future Kempinski hotel guests will remember how long some people had to spend in prison to make their stay possible," Polish Foreign Minister Radoslaw Sikorski said on Polskie Radio on Feb. 27.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more