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Belarus Will Not Block Creation Of Eurasian Economic Union

Belarusian President Alyaksandr Lukashenka says his country will not block the signing of a deal creating a Eurasian Economic Union after resolving a dispute with Russia over oil product duties.

Lukashenka previously threatened to block the signing if some current restrictions in trade, including petroleum product duties, were not removed.

Talking to journalists in Minsk on May 9, Lukashenka said the Kremlin had agreed to give Belarus a $2 billion loan this month, adding that around $1.5 billion in duties on petroleum products would stay in Belarus next year.

Minsk already received a Russian loan of $450 million in January.

The agreement on creation of the Eurasian Economic Union based on the Customs Union, which currently consists of Belarus, Kazakhstan and Russia, is scheduled for May 29 in Astana -- the Kazakh capital.

Based on reporting by Reuters and Interfax