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. Last Updated: 07/27/2016

Ukraine-Belarus Deal

KIEV -- Under pressure from the financial crisis in neighboring Russia, Ukraine and Belarus agreed Monday to set up a banking consortium to help settle payments between the two countries, a news report said.

The sides also agreed to invite a Russian bank to join the consortium, which already includes Ukraine's Prominvestbank, its largest, and Belarus' Promstroibank, Interfax reported.

The formation of the consortium would help stabilize banking transactions between Ukrainian and Belarussian banks, Prominvestbank chairman Volodymyr Matvienko said.