Putin Hosts Lukashenko on His Yacht as Russia Pushes Ahead With $500 Million Loan to Belarus

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  • Bloomberg Quicktake: Now published this video item, entitled “Putin Hosts Lukashenko on His Yacht as Russia Pushes Ahead With $500 Million Loan to Belarus” – below is their description.

    Russia will release $500 million from a previously agreed loan to Belarus after talks between the country’s leaders, in a sign of support for its closest ally after the forced landing of a Ryanair Holdings Plc jetliner and the arrest of a dissident sparked a new wave of tensions between Minsk and the West.

    Vladimir Putin and Belarusian President Alexander Lukashenko discussed the plane incident in detail during “quite constructive” talks Friday and Saturday, Kremlin spokesman Dmitry Peskov said on a conference call. He dismissed the European Union’s reaction — including a recommendation to airlines to stop flying over Belarus and plans for new sanctions on the country — as “based on emotions.”

    Russia will look for ways to expand air service with Belarus to make up for some of the routes affected by the EU’s limits on Minsk’s state airline, Peskov said.

    The $500 million — to be released in the near future — is part of $1.5 billion in loans that was agreed last year and had been expected by the end of next month. Lukashenko didn’t ask for further assistance, Peskov said, but the two leaders did discuss closer tax and customs cooperation.

    In their second day of talks, they went sailing on the Black Sea, Peskov said. The presidents held an informal meeting on a yacht off the resort of Sochi.

    Footage of the meeting shows the leaders talking, looking out at dolphins in the sea and being joined for lunch by Lukashenko’s son, Nikolai.

    The U.S. administration announced it would re-impose sanctions against nine Belarusian state-owned enterprises late Friday, and is developing additional penalties to target government officials.

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    In This Story: Belarus

    Belarus, officially the Republic of Belarus and formerly known as Byelorussia or Belorussia, is a landlocked country in Eastern Europe. It is bordered by Russia to the northeast, Ukraine to the south, Poland to the west, and Lithuania and Latvia to the northwest. Its capital and most populous city is Minsk.

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    Vladimir Vladimirovich Putin is a Russian politician and a former officer of the KGB who has served as President of Russia since 2012, previously holding the position from 1999 until 2008. He was also the Prime Minister of Russia from 1999 to 2000 and again from 2008 to 2012.

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    Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. It extends from the Baltic Sea in the west to the Pacific Ocean in the east, and from the Arctic Ocean in the north to the Black Sea and the Caspian Sea in the south.

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    Ryanair DAC (LON: RYA) is a European Low-cost airline founded in Ireland in 1984. It is headquartered in Swords, Dublin, with its primary operational bases at Dublin and London Stansted airports. It forms the largest part of the Ryanair Holdings family of airlines, and has Ryanair UK, Buzz, and Malta Air as sister airlines.

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