Sanctions Update – Belarus

Whilst there are important differences between the sanctions imposed by the US, EU, and UK, there are now significant trading sanctions imposed by all three.

Perhaps of particular relevance are the trade sanctions imposed against the potash and petroleum sectors.

Under the US sanctions, the Secretary of the Treasury, in consultation with the Secretary of State, is now empowered to impose sanctions against those who “operate or have operated in the defense and related materiel sector, security sector, energy sector, potassium chloride (potash) sector, tobacco products sector, construction sector, or transportation sector of the economy of Belarus, or any other sector of the Belarus economy as may be determined by the Secretary of the Treasury, in consultation with the Secretary of State”.

The UK sanctions also target the direct or indirect supply or delivery of petroleum products and potash that originated in Belarus.  In relation to petroleum products there are also express restrictions on the provision of financial services (including insurance).

The EU sanctions introduced on June 24th also imposed restrictions on the transport of Belarussian petroleum products and potash.

In addition to the activity based sanctions there are a number of individuals and companies targeted by the sanctions, including JSC Belarusskali, one of the world’s largest potash manufacturers, which has been added to the US SDN list.

Further details of the scope of the restrictions can be found here:

UK: UK sanctions relating to the Republic of Belarus – GOV.UK (www.gov.uk)

US: Belarus Sanctions | U.S. Department of the Treasury

EU: EU imposes sanctions on Belarusian economy – Consilium (europa.eu)

Members are advised to contact a member of North’s Sanctions Advice Team for further guidance.