Belarus industrial enterprises go over to hryvnia in settlements for export to Ukraine

18:10, 10.01.2015 1 min read

The Belarusian enterprises that have long-term contracts for the supply of their products to Ukraine are switching to hryvnia in settlements on these contracts, Belarusian Ambassador to Kyiv Valentin Velichko said.

"The lack of currency for the realization of international contracts adjusts many plans and makes us look for new settlement models. For example, some Belarusian enterprises that have long-term deals to buy materials, parts and other goods in Ukraine are now partially switching to hryvnia in settlements, despite some risks," Velichko said in an interview with the international magazine Bankir.

The interview is available for viewing on the Belarusian Foreign Ministry website.

Velichko said the transition to hryvnia is positively impacting the end product price, which helps Belarus solidify its positions on the Ukrainian market. "However, not everyone can do it. Highly liquid products, for example, petroleum products, can only sell for currency," he said.