Seems like Polish, which I can barely understand. Dunno if they have an 'y' sound, but I would separate the words like this:

Krasnoye oblitcha, beleyee tsvet,
tee mena lyubitch a net seebya net,
tee meena lyubitch, a nit toy dom,
tee meena zhervushka, shto uvlyublyon.

My stab at a translation would be:
pretty cloud, white colour,
you love me, but not yourself (unless it's 'ne teebya net' in which case it would be 'but I don't', or 'you are gone'),
you love me, but not your house (or maybe: your house is gone,)
you zhervushka (whatever that is) me, because I've fallen in love.

Polish or Byelorussian speakers please help!!!