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Belarus to hold Victory Day parade despite public health warnings
Belarus today celebrates the 75th anniversary of the Soviet victory over Nazi Germany in the Second World War.
This is the first Victory Day to be cancelled in most of the former Soviet satellites since the fall of the USSR. Unlike Russia and its other neighbours, Belarusian President Alexander Lukashenko has resisted calls to cancel the event.
With elections set for August, Lukashenko is looking to secure his sixth term as president. He has so far refused to act on WHO health recommendations and has denied the scale of COVID-19 in Belarus (now at 20,000 confirmed cases) in an attempt to keep the country’s economy active. After walking away from partnership talks with Russia in December, and facing a currency depreciation, Lukashenko is eager to contain and deflect blame for any economic shock.
Minsk’s economic health relies on high oil prices and profits from subsidised oil transfers from Moscow. With these transfers decreasing, Lukashenko is looking to keep the economy running at any cost. Courting American oil and sanctions relief to make up for lost Russian aid, today’s event is a signal that Lukashenko is working to defy Moscow and chart his own course.
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An international finance and strategy professional, Niko serves on the Current Developments Team with a focus on global business and policy trends in order to understand the key drivers of international investment. Niko's specific interests are in energy, emerging and frontier markets, and trade policy; he contributes regularly to the Daily Brief