Russia Update: Belarus Catches Russian Ruble Virus as National Bank Announces 30% Fee

December 19, 2014
Belarusians line up on December 19, 2014 to buy foreign currency after 30% fee imposed on exchange. Photo by Tatyana Zenkovich/EPA

Welcome to our column, Russia Update, where we will be closely following day-to-day developments in Russia, including the Russian government’s foreign and domestic policies.

The previous issue is here, and see also our Russia This Week story The Kremlin’s Policy-Making on Ukraine is ‘A Mess’ and special features ‘Managed Spring’: How Moscow Parted Easily with the ‘Novorossiya’ Leaders, Putin ‘The Imperialist’ A Runner-Up For Time’s ‘Person of the Year’ and It’s Not Just Oil and Sanctions Killing Russia’s Economy, It’s Putin.

Belarus has caught the Russian ruble virus as the National Bank has imposed a 30% fee on foreign currency exchanges, and Belarusian citizens are still lining up at banks to change their Belarusian rubles to dollars or euros.

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