Russia: Start of Medvedev’s, Rubles as a International Currency!

Belarus Finance Minister Andrei Kharkovets signed the so-called currency capitulation in Moscow yesterday. Belarus gets a new intergovernmental loan of $2 billion for 2008 and 2009 by agreeing to pay for Russia’s oil and gas supplies in rubles starting from 2009. From now on, stability of Belarus economy will depend on Russia’s ruble stability and the country will have to amass ruble reserves.