EEC negotiating list of EEU response measures in retaliation against external sanctions

<p> MINSK, Sep 29 - PrimePress. The Eurasian Economic Commission (EEC) is negotiating a draft list of response measures that may be taken by the Eurasian Economic Union (EEU - Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia) in retaliation against external sanctions, EEC representative Iya Malkina said at a briefing on 29 September. </p> <p>   </p> <p> “At present, the trade bloc of the Commission is actively working to agree with the parties on a draft list of possible measures to respond to economic pressure exerted by third countries on the union states. The heads of state (of the EEU member states – editor’s note) are planning to present the measures that will receive maximum support from the member states,” Malkina said. </p> <p>   </p> <p> She noted that such measures would be applied solely to protect the economic interests of the EEU, and in the current situation the greatest support would be given to Belarus. </p> <p>   </p> <p> On 20 Sep 2021, Deputy Prime Minister of Belarus Igor Petrishenko stated that the government of Belarus and the Eurasian Economic Commission (EEC) were discussing three groups of measures as a joint response of the Eurasian Economic Union (EEU) to external sanctions. In his words, the issues were grouped into three blocs: the first bloc deals with concerted action within the existing legal framework of the EEU; the second one provides for a political and economic response (retaliatory measures will be prepared and submitted to heads of state); the third group includes measures that can be implemented by adjusting the EEU regulatory framework. </p> <p>   </p> <p> As previously reported, the EU Council on 25 June 2021 introduced sanctions against largest sectors of Belarus’ economy entities in response to human rights abuse by Belarus authorities and the Ryanair diversion incident of 23 May 2021. 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. 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 ban also applies to continuation of EIB technical aid contracts. On 9 August, the US, the UK and Canada imposed sectoral sanctions on Belarus, including financial sanctions. </p> <p>   </p> <p> At the EEU online summit on 21 May 2021 Belarus President Alexander Lukashenko said that “the so-called collective West” is not interested in the strengthening of our union and the strengthening of the new rival on the global market. In his words, it is important to assess the negative impact of such external pressure and to start mulling over response measures – from the targeted promotion of import substitution and mutual trade to, if necessary, the introduction of direct restrictive measures within the competence of the union. Russian Deputy Foreign Minister Alexander Pankin said on June 4 that the EEU was discussing possible collective measures in response to the introduction or expansion of sanctions against any country from the Union. However, as early as 7 June, the press service of the Kazakh Foreign Ministry stressed that Kazakhstan was not negotiating "consolidated measures" of the Eurasian Economic Union countries in response to sanctions of third states against its individual members, and in general was against politicising the EEU. End </p>

2021-09-30

Primepress