By Andrei Makhovsky
Belarus took further emergency steps on Thursday to defend itself from economic turmoil in Russia, devaluing its currency by around 7 percent for the second time this week, raising its main refinancing rate and imposing a new export tax on potash.
Former Soviet countries are feeling the pain as Russia, often the main trading partner, suffers from Western sanctions over Ukraine and a sliding oil price, which sent the Russian rouble down by about 40 percent against the dollar last year.
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Source: Cyprus Mail
