Belarus’ govt has plan of action under EU sectoral sanctions – Golovchenko

MINSK, Jul 5 - PrimePress. The government of Belarus has a “firm plan of actions” in conditions of the sectoral sanctions imposed by the European Union (EU), suggesting, in particular, entering alternative export markets, Prime Minister of Belarus Roman Golovchenko said on July 4, 2021 on Belarus-1 TV channel.<br> <br> “We are trying to better assess the impacts of the imposed sectoral sanctions. We can’t say that we take them lightly or neglect them, so we have a firm plan to work in these conditions. I would not make a point of possible losses for now,” he said.<br> <br> He declined to comment on media forecasts about a possible 7-14% decrease in gross domestic product of Belarus due to the sanctions. “One should argue about the taste of oysters with those who have eaten them. So, to be honest, I do not know what calculations these figures are based on. They are probably intended to cause some shock and awe in society,” said Golovchenko.<br> <br> “We may become even more motivated. Tighter conditions will make us move even faster, enter new markets more actively. We know where to go, in particular, to Kazakhstan. It is not a new market. During the visit [of the government delegation to Kazakhstan on June 26-28, 2021], we outlined specific projects to ensure growth in the next few years. This is a stimulating and motivating factor for us,” said the prime minister.<br> <br> On June 7, 2021, Golovchenko estimated Belarus’ possible economic losses from the Western sanctions at no more than 2.9% of GDP, saying that the government was ready to cover these losses at the expense of “other sources.” <br> <br> As previously reported, on June 25, 2021, the EU Council introduced 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). End<br> <br>

2021-07-05

Primepress