Belarus dollar bonds due in ten years fell on Monday, as yields went up by 23 basis points to a monthly high of 7.48%. According to Bloomberg, the plunge followed a forced landing of a plane by the state that saw a journalist onboard arrested in what could escalate tensions with the European Union.
Following the Belarus’s action, planes were rerouted away from Belarus airports.
The EU is expected to order sanctions against president Alexander Lukashenko from Monday in Brussels.
The EU could suspend Belarus flights, ban its national airline from landing at EU airports, and block a ground transit from the country.
EU has been proposing additional sanctions for Belarus since last year’s dispute elections.
The U.K has joined the EU in recommending action against Belarus and the release of the arrested journalist.
Russia has criticized the western countries for double standards, saying Belarus action to order the landing is similar to what countries in the EU and the U.S have done in the past.
