The material is available only to
POZIRK+BIC flags Dubai real estate owned by Belarusian businessmen
The material is available only to
POZIRK+
Eight countries align themselves with EU’s latest package of sanctions
May 13, Pozirk. Eight countries have aligned themselves with the European Union’s package of restrictions imposed on Belarus on April 23 over the situation in the country and its involvement in the Russian war of aggression against Ukraine.
The countries are Albania, Bosnia and Herzegovina, Iceland, Liechtenstein, Montenegro, North Macedonia, Norway and Ukraine.
On April 23, the EU prohibited any transaction involving the Belarusian central bank’s future digital currency, banned “transactions with any crypto-asset service providers” and services of travel agents and tour operators in Belarus and restricted imports and exports.
The EU said the digital ruble could help bypass sanctions, noting it is “intended… to provide a payments system which shields Belarusian persons from the effect of the restrictive measures.” As a result, the EU now prohibits any involvement in the currency or support for its development.
The EU also imposed a broad ban on crypto-related activity in Belarus. It explained that targeting individual providers would not be enough, as the government could shift operations elsewhere. Therefore, “it is… appropriate to prohibit transactions with any crypto-asset service providers” based in Belarus.
Beyond finance, the sanctions expand export and import restrictions. New limits cover goods that could strengthen Belarus’ military or industrial capacity, including chemicals, metals, rubber products, industrial equipment, laboratory glassware and certain high performance lubricants and their additives. Transit of certain goods through Belarus is also further restricted.
The EU also restricted services related to tourism in Belarus, citing a heightened risk of arbitrary arrests in the country.
“Moreover, it is appropriate to introduce further import bans on goods which allow Belarus to diversify its sources of revenue, thereby enabling its involvement in the Russian aggression against Ukraine, including on certain raw materials, metals, certain minerals, scrap of steel and other metals, chemicals, articles of vulcanised rubber and tanned furskins.”
To strengthen enforcement, the EU expanded legal protections for its companies, preventing claims related to contracts disrupted by sanctions from being pursued through third countries.
According to the EU Council’s press release, the new package of sanctions includes “three new listings related to the Belarusian military-industrial complex and the Lukashenka [Łukašenka] regime. For the first time, a Chinese state-owned entity is being targeted under the Belarus sanctions regime, due to its role in the production of Belarusian military goods.”
In particular, the EU has imposed sanctions on Belarusian Vołat-Sanjiang and its Chinese co-founder, China Space Sanjiang Group, as well as Belarusian Oil Company.
EU’s latest sanctions on Belarus include digital rubel, crypto ban, target new companies
April 24, Pozirk. The European Union in its latest package prohibited any transaction involving the Belarusian central bank’s future digital currency, banned “transactions with any crypto-asset service providers” and services of travel agents and tour operators in Belarus and restricted …
