Belarus’ officials ready to sign EEC founding treaty, but cannot guarantee its implementation

During the Belarusian Industrial Forum, Belarus’ First Deputy Prime Minister Vladimir Semashko said that Belarus was ready in principle to sign the Eurasian Economic Community founding treaty. However, some bilateral issues between Minsk and the Kremlin remain unresolved, such as oil duty exemptions and a USD 2 billion intergovernmental loan, although President Lukashenko said that he reached relevant agreements during his meetings with presidents of Kazakhstan and Russia on May 8^th. It is likely that the presidents of Belarus, Kazakhstan and Russia will sign the EEC founding treaty as planned – on May 29^th. But the document might be a declaration of intent without rigorous terms and obligations.