Mortgage security amount to be cut in Customs Union

 The size of the mortgage security in the Customs Union will be considerably reduced, Vice Premier of Belarus Andrei Kobyakov told media after this decision was made at a session of the Customs Union Commission in Moscow on 26 February.

In his words, the Customs Code of the Customs Union provides that the amount of the mortgage security for conscientious participants of the foreign economic activity makes up €1 million. The sum is, however, exorbitant for the majority of the economic agents. Therefore the decision was taken to reduce the size of the mortgage security to €150,000.