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Russia cuts off electricity supply to Belarus over debt
Russia on Wednesday cut power supplies to cashstrapped Belarus after it failed to make a debt payment due to its mounting economic crisis, the latest energy spat between the two uneasy neighbours. Anna SMOLCHENKO
Russia had threatened to cut off supplies to Belarus last week before extending the deadline to help the ex-Soviet republic come up with the payment. The new deadline expired early Wednesday. Russian power producer Inter RAO UES halted power supplies to Belarus, promising to reestablish deliveries within 24 hours of when the payment is made. As of 0500 GMT, the payment
has not been made, said company spokesman Nikolai Gorelov. «There is no money,» he told. Company officials, speaking on condition of anonymity, said the dispute centred around some 600 million rubles ($21.3 million), an April payment Belarus should have covered by June 20. Belarus receives only about a tenth of its electricity from Russia and the power cutoff is not expected to significantly affect households.
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But the spat underscores the severity of the current economic downturn plaguing Russia’s neighbour. Belarus says it has enough local currency to make the payment but lacks enough Russian rubles in its state accounts to make the required conversion. In recent years Russia and Belarus have often been at loggerheads over energy prices and customs duties. Last June, Russia significantly reduced gas flows to Belarus over a similar payment dispute, briefly interrupting European supplies. Its economy has been stuck in the doldrums for years, with the country’s strongman leader Alexander Lukashenko refusing to conduct market reforms. Russia has been using a
carrot and stick approach to urge Lukashenko to engage in state sell-offs that could see stakes in top Belarussian enterprises end up in Russia’s hands. A top World Bank official warned this month that the country’s economic model had «run out of steam.» Led by the wayward Lukashenko for the last 17 years, the politically isolated state has retained elements of the Soviet command economy, dominated by state-owned companies. A harsh crackdown by Minsk on opposition supporters after Lukashenko won disputed elections last December has prompted the European Union to impose economic sanctions and travel bans on people close to the president.
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Dear Readers, We would like to inform you that London Info newspaper is taking a summer break from 13.07.2011 till 31.08.2011. We will be back with new ideas and in an improved format. Sincerely Yours Editorial Team