BELARUS…

Gazprom Chairman Rem Vyakhirev, under pressure to pay billions in tax arrears owed in Moscow, came to Minsk to collect an estimated $250 million owed by Belarus for gas already delivered. Belarus has no money, so Vyakhirev proposed to take as payment title to land along the Belarus portion of the Yamal-to-Europe gas pipeline; a controlling interest in a Belarus construction company building a parallel “Yamal-Europe 2” pipeline; and $80 million in Belarusan bonds. President Alyaksandr Lukashenka agreed only to payment in bonds, and then only on the condition that they be non-transferable. Gazprom’s threats to cut back deliveries have been countered with threats by Belarus to cut off transit of Russian gas to western Europe. The stalemate continues.