We would like to inform you that, on June 21st and 24th, 2021, the European Union (EU) decided on new, targeted financial sanctions against Belarus, several of its citizens and businesses registered in Belarus. Furthermore, the U.S. Office of Foreign Assets Control (OFAC) set new sanctions on June 21st, 2021. We would therefore like to remind you that the EU sanctions are binding and directly applicable throughout the entire EU jurisdiction, while financial institutions also adhere to OFAC sanctions.
With this in mind, please check whether your business partners include persons under sanctions or persons linked with them, as well as whether your business operations will be impacted by the sectoral sanctions. It is important to know this, because we are not allowed to complete transactions which are subject to sanctions in accordance with legislative requirements.
The EU’s sectoral sanctions against Belarus include a ban on directly or indirectly selling, delivering, handing over or exporting equipment, technology or software mainly intended for internet and telephony monitoring and interception to any person in Belarus, and dual-use goods and technology for military use and to specific persons, organisations or structures in Belarus. Trade sanctions are imposed on petroleum products, potassium chloride, and products used to manufacture or prepare tobacco products. Furthermore, access to EU capital markets is restricted, and selling insurance and reinsurance services to the Belarussian government and Belarussian governmental institutions and agencies is forbidden. We should add that these sectoral restrictions do not affect contracts signed before June 25th, 2021, or any additional contracts necessary for the completion of the aforementioned contracts, as long as these contracts are not linked with specific dual-use goods, special equipment, technology or software.
You should also adhere to the EU’s targeted sanctions against specific private and legal individuals, to whom the aforementioned transition period does not apply.
We suggest you read the sanctions from June 21st and 24th (see below).
EU targeted financial sanctions (LV, LT, EE): https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.LI.2021.219.01.0003.01.ENG&toc=OJ%3AL%3A2021%3A219I%3ATOC
EU targeted financial sanctions against the Belarussian state company Belaeronavigatsia (LV, LT, EE): https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.LI.2021.219.01.0055.01.ENG&toc=OJ%3AL%3A2021%3A219I%3ATOC
EU sectoral sanctions (LV, LT, EE): eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.LI.2021.224.01.0001.01.ENG&toc=OJ%3AL%3A2021%3A224I%3ATOC
U.S. sanctions: home.treasury.gov/news/press-releases/jy0237