March 22, Pozirk. Belarus’ Biełinvestbank, recently removed from US sanctions, remains deeply involved in financing the production of military-grade goods, according to a recent investigation by the BelPol opposition group.
The bank’s investments have contributed to the production of rocket components, including microchips for Russian missiles, and equipment for companies in Russia and Belarus, carrying out state defense orders, it noted.
Biełinvestbank reportedly lends money to manufacturers of 152-mm artillery shells and 122-mm rocket shells at the following facilities in Belarus: Lehmaš in Orša, Viciebsk region; the Minsk Bearing Plant; BAZtube in Žodzina, Minsk region; Termoplast in Minsk, the Minsk Automobile Plant, the Minsk Gear Plant, the Minsk Tractor Plant and others.
The bank is also financing a “new ammunition production facility,” BelPol said, referring to a plant to manufacture projectiles for the Grad multiple launch rocket systems and 155 mm artillery shells, which is under construction in the Słuck district, about 60 kilometers from Minsk. Earlier, BelPol reported that construction is underway under a secret order from Alaksandar Łukašenka.
In addition, Biełinvestbank reportedly provides loans to the Płanar and Intehrał factories operating in the microelectronics sector. According to investigators, the bank’s funds are used to manufacture equipment for the production of military-grade microchips. Integrał’s products are supplied to at least 47 Russian defense companies, BelPol stressed.
Following last week’s talks with US special envoy John Coale, Łukašenka’s press office reported that the US lifted sanctions on two Belarusian banks, Biełinvestbank and the Development Bank.
However, sanctions imposed by the European Union, Ukraine, and several other democratic countries remain in effect against Biełinvestbank, which was disconnected from SWIFT in June 2022.
In February 2022, Russia started a full-scale war against Ukraine in which the Belarusian authorities supported the Kremlin, allowing Russian troops to attack Ukraine from Belarus on multiple occasions and supplying arms to Moscow.
