The government of Belarus has blocked foreign shares in 1849 companies

The Council of Ministers of Belarus expanded until 1849 the list of companies in which the shares of foreign participants are blocked under counter-sanctions, should from a government decree published on the national legal portal.

The document was signed on January 23 by Nikolai Snopkov, First Deputy Prime Minister of the Republic. The list includes 226 organizations with German participation, 257 with Polish, 118 with Estonian, 326 with Cypriot, etc.

In July 2022 Interfax informedthat the Belarusian government has published a list of 190 local companies with foreign participation that will be subject to counter-sanctions. It also includes companies owned by citizens of Belarus through foreign companies. “In order to protect the interests of the Republic of Belarus, the shares are blocked on the depo accounts of their owners according to the list on the basis of the order of the Ministry of Finance to impose restrictions on the disposal of securities,” the Council of Ministers said in a resolution.

Foreign investors are prohibited from selling businesses or divesting assets.

After the start of the Russian special operation in Ukraine, the West began to accuse Minsk of participating in the conflict, and as a result, the sanctions also affected Belarus. The country introduced restrictive measures against a number of individuals and legal entities. In particular, the Belinvestbank and Dabrabyt banks fell under the sanctions. In July 2022, the UK announced that it would impose a ban on the import of iron and steel from Belarus, as well as a ban on the supply of refined products and luxury goods to the republic.

January 22 Polish RMF FM, citing sources in the European Commission reportedthat the EC is studying the possibility of introducing new sanctions against Belarus, including an embargo on the supply of dual-use equipment and weapons, as well as restrictions on banks. January 27 Bloomberg citing documents informedthat the European Union proposed a new round of sanctions against Belarus, similar to anti-Russian sanctions. Among them are a ban on the export of dual-use goods and technologies, trade restrictions on luxury goods, investments and the provision of certain services, etc.