Belarus to keep payments for Russian energy resources in Russian rubles in 2023

MINSK. Dec 5 (Interfax) - Belarus intends to maintain what it sees as the comfortable arrangement of paying for Russian energy resources in Russian currency next year as well, Finance Minister Yury Seliverstov said.

"The arrangement is remaining, it's quite comfortable, we're happy with it," Seliverstov said on TV channel Belarus-1 on Sunday.

"Of course we're leaving [this arrangement in place], of course this is beneficial. We have revenue being generated in Russian rubles, so we don't have any problems with this. We are not only paying for energy resources, but are also paying on debts in Russian rubles," he said.

He also said that funding for import substitution projects being financed with credit by Russia would hopefully begin before the end of this year.

About 15 projects are already planned and they are now being refined in order to apply to banks for financing, he said. "We hope that we'll start financing something starting at the end of this year," Seliverstov said.

"The main effect of projects to make products to replace imports that we previously purchased, that have become expensive or we cannot acquire in previous amounts, is to establish production so as to not depend on anyone. Considering that this will be borrowed resources, we must earn, repay this money and also get our return. Again, this is creation of new jobs, added value," Seliverstov said.