Belarus’ govt considers ways to minimize impacts of Western sanctions – Golovchenko
MINSK, Jul 6 - PrimePress. The government of Belarus is considering ways to minimize the impacts of Western sanctions on the economy and enterprises of the country, Prime Minister Roman Golovchenko said on July 6, 2021 after a presidential meeting on countering the sanctions, the government press office reports.<br> <br> “We are making efforts to ensure that enterprises and industries of Belarus will not suffer from the sanctions. The lack of sanction effects is so far our main counter-sanction,” said Golovchenko.<br> <br> He considers successes in economic development of the country to be one of the underlying reasons for the pressure on Belarus. “Contrary to what the alarmists’ predictions of our downfall and destruction, we are growing very well in terms of exports, which have increased by almost one-third over the past five months. We received $4 billion in extra revenues, and the country’s balance of payments is the best in the past decade,” he said.<br> <br> He thus hopes that the pressure on Belarus would stop. “We are still open for dialogue. We are ready to negotiate all issues in the interests of our country and the Belarusian people, but only without dictate,” said Golovchenko.<br> <br> As previously reported, the EU Council introduced on June 25, 2021 sanctions against largest sectors of Belarus’ economy. The sanctions prohibit direct or indirect sale, supply, transfer or export to any natural or legal person, entity or body in Belarus or for use in Belarus of goods used for the production or manufacturing of tobacco products; the purchase, import or transfer from Belarus of petroleum products, potassium chloride products. The EU Council prohibited EU entities and individuals from purchasing, selling, and provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments with a maturity exceeding 90 days, issued after 29 June 2021. Securities of large credit institutions or other institutions with more than 50% state ownership or control as of 29 June 2021 are also prohibited. The ban also affects bonds issued by major credit or other institutions established in Belarus with over 50 % public ownership or control as of 29 June 2021 (Belarusbank, Belinvestbank, Belagroprombank). The government of Belarus, public bodies, corporations or agencies, or entities acting at their direction, are prohibited from acquiring insurance or reinsurance services from the EU. Any payments or disbursements by the European Investment Bank in connection with any existing agreements with the Republic of Belarus or its public authorities shall be prohibited. The EU member states will take the necessary measures to limit the involvement of multilateral development banks in Belarus. The prohibitions shall be without prejudice to the execution of contracts concluded before 25 June 2021 or ancillary contracts necessary for the execution of such contracts. <br> <br> The Council of the European Union (EU) at the level of foreign ministers of EU member states approved on 21 June 2021 the fourth package of individual sanctions on Belarus targeting 78 individuals and eight entities. The list of persons and entities hit by the sanctions includes MAZ, BelAZ, New Oil Company, Belaeronavigatsia air traffic service company, Bremino Group, Logex and Globalcustommanagement logistics companies, Sohra (exporter of Belarusian equipment). <br> <br> The United States on 21 June 2021 introduced sanctions against Belarus’ 16 individuals and 5 entities in response to human rights abuse and the Ryanair diversion incident. The United Kingdom (UK) on June 21 imposed sanctions against 11 individuals and two entities of Belarus after the Ryanair plane incident, as well as in response to human rights violations and suppression of democracy. Canada on 21 June 2021 imposed sanctions against 17 individuals and five entities of Belarus after the Ryanair plane incident and in response to human rights abuse. <br> <br> After the August 2020 presidential elections in Belarus, a political crisis began in the country. The authorities responded to the protests of citizens who disagreed with the election results with harsh repression and persecution. Since October 2020, the EU has already introduced three packages of (mostly targeted) sanctions against the Belarusian authorities. End<br> <br>
2021-07-06
Primepress
Belarus’ govt considers ways to minimize impacts of Western sanctions – Golovchenko
“We are making efforts to ensure that enterprises and industries of Belarus will not suffer from the sanctions. The lack of sanction effects is so far our main counter-sanction,” said Golovchenko.
He considers successes in economic development of the country to be one of the underlying reasons for the pressure on Belarus. “Contrary to what the alarmists’ predictions of our downfall and destruction, we are growing very well in terms of exports, which have increased by almost one-third over the past five months. We received $4 billion in extra revenues, and the country’s balance of payments is the best in the past decade,” he said.
He thus hopes that the pressure on Belarus would stop. “We are still open for dialogue. We are ready to negotiate all issues in the interests of our country and the Belarusian people, but only without dictate,” said Golovchenko.
As previously reported, the EU Council introduced on June 25, 2021 sanctions against largest sectors of Belarus’ economy. The sanctions prohibit direct or indirect sale, supply, transfer or export to any natural or legal person, entity or body in Belarus or for use in Belarus of goods used for the production or manufacturing of tobacco products; the purchase, import or transfer from Belarus of petroleum products, potassium chloride products. The EU Council prohibited EU entities and individuals from purchasing, selling, and provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments with a maturity exceeding 90 days, issued after 29 June 2021. Securities of large credit institutions or other institutions with more than 50% state ownership or control as of 29 June 2021 are also prohibited. The ban also affects bonds issued by major credit or other institutions established in Belarus with over 50 % public ownership or control as of 29 June 2021 (Belarusbank, Belinvestbank, Belagroprombank). The government of Belarus, public bodies, corporations or agencies, or entities acting at their direction, are prohibited from acquiring insurance or reinsurance services from the EU. Any payments or disbursements by the European Investment Bank in connection with any existing agreements with the Republic of Belarus or its public authorities shall be prohibited. The EU member states will take the necessary measures to limit the involvement of multilateral development banks in Belarus. The prohibitions shall be without prejudice to the execution of contracts concluded before 25 June 2021 or ancillary contracts necessary for the execution of such contracts.
The Council of the European Union (EU) at the level of foreign ministers of EU member states approved on 21 June 2021 the fourth package of individual sanctions on Belarus targeting 78 individuals and eight entities. The list of persons and entities hit by the sanctions includes MAZ, BelAZ, New Oil Company, Belaeronavigatsia air traffic service company, Bremino Group, Logex and Globalcustommanagement logistics companies, Sohra (exporter of Belarusian equipment).
The United States on 21 June 2021 introduced sanctions against Belarus’ 16 individuals and 5 entities in response to human rights abuse and the Ryanair diversion incident. The United Kingdom (UK) on June 21 imposed sanctions against 11 individuals and two entities of Belarus after the Ryanair plane incident, as well as in response to human rights violations and suppression of democracy. Canada on 21 June 2021 imposed sanctions against 17 individuals and five entities of Belarus after the Ryanair plane incident and in response to human rights abuse.
After the August 2020 presidential elections in Belarus, a political crisis began in the country. The authorities responded to the protests of citizens who disagreed with the election results with harsh repression and persecution. Since October 2020, the EU has already introduced three packages of (mostly targeted) sanctions against the Belarusian authorities. End