The moratorium on linking rent to currency has been extended

On January 10, 2024, Law No. 347-Z of January 5, 2024 was published, which extended the moratorium on linking rent to the equivalent of a certain amount in foreign currency until January 1, 2025.

Let us remind you that this moratorium does not apply to relations arising from a financial lease (leasing) agreement.

Important: Additionally, there is a ban on setting rent in conventional (account) monetary units (“special drawing rights”, etc.).

The rent in lease agreements must be established exclusively in a certain amount in Belarusian rubles. Agreements in which the rent was determined by the parties in relation to monetary units, special drawing rights, and other conventional units of account (for example, non-currency equivalents (precious metals, raw materials)) should be brought into compliance with the new requirements.

The law comes into force on January 11, 2024 and apply to relationships arising from January 1, 2024.