Minsk May Fine Russia If No Flexibility Seen On Loan For Belarus Power Plant - Lukashenko

Belarus may slap Russia with significant fines for delaying the commissioning of the Belarusian nuclear power plant (NPP) if Russia does not accept Minsk's offer to reduce the loan rate to 3 percent and extend the debt repayment to five years from the current two, President Alexander Lukashenko said on Friday

MINSK (UrduPoint News / Sputnik - 14th February, 2020) Belarus may slap Russia with significant fines for delaying the commissioning of the Belarusian nuclear power plant (NPP) if Russia does not accept Minsk's offer to reduce the loan rate to 3 percent and extend the debt repayment to five years from the current two, President Alexander Lukashenko said on Friday.

Lukashenko recalled that Russia had pledged to commission the first unit of the NPP in 2018 and the second unit a year later, but had "broken the deadline," which could lead to "hefty fines." The Belarusian leader also said that Russian President Vladimir Putin had invited him to look for a mutually beneficial solution, in order "not to start negotiations with sanctions.

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"And I say: this is a good offer, I have a counter-proposal. You have broken the deadline, so let us agree to reduce the loan interest to ... around 3 percent, and then we will not impose sanctions ... As for the loan, since you have broken the deadline, we will start repaying it not in two years but in five. Is it logical? Yes, it is. It is not convenient, but we have decided we will seek agreement, there is no other option. Either we impose sanctions for delaying the commissioning, and they will be big, or they show flexibility regarding the loan," Lukashenko said, as quoted by state news agency Belta.