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Russia to reply to Belarus loan request in 1.5 months - finance min. - 1

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MOSCOW, February 28 (RIA Novosti) - Russia will study Belarus' request to be granted a $1.5 billion loan for 1-1.5 months, Russia's finance minister said Wednesday.

Belarus's government requested a $1.5 billion stabilization loan from Russia February 22 due to rises in the price of oil and natural gas imported from Russia.

"We received the request, and we will be working on it," Alexei Kudrin said.

The two countries were embroiled in an energy dispute earlier this year after Russia doubled the price of gas to $100 per 1,000 cubic meters. In response, Minsk introduced a transit levy of $45 per metric ton for Russian crude oil pumped to Europe via Belarus.

Russia halted deliveries to Europe via the pipeline January 7, saying Belarus was illegally tapping oil following a tit-for-tat price and tariff dispute.

The interruption in supplies affected Germany, Poland, Hungary, the Czech Republic and Slovakia, and further damaged Russia's reputation as a core energy supplier to Europe following a similar energy row with Ukraine involving natural gas in early 2006.

Russia agreed to resume deliveries after receiving a Belarusian government resolution abolishing the transit levy on Europe-bound Russian oil.

The standoff triggered more accusations in Europe that Russia is using hydrocarbons as a political weapon, and discussions on the need to diversify energy sources.

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