Belarus: suspension of the right to link rental payments to foreign currency

The rate of rent under a lease agreement cannot be  temporarily set by the equivalent in foreign currency.

In Belarus a landlord cannot set the rental rate by reference to a foreign currency until 1 January 2024.

From now on, the rental rate under a lease agreement can be expressed exclusively in Belarusian roubles.

New rules relate to both residential and commercial real estate.

Landlords must bring into compliance all lease agreements concluded before the date the new changes come into legal force – not later than 22 September 2022.

The new rules come into legal force from 23 September 2022.

Source: National legal internet portal of the Republic of Belarus (NLIP) 22.07.2022, 2/2917.