Why was Belarus sanctioned? Who Sanctioned it? Which Entities in Belarus were sanctioned?

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Tanya Parkhi
Tanya Parkhihttps://regtechtimes.com
Tanya Parkhi is an Anti Money Laundering Expert and regularly contributes to the compliance articles on Regtechtimes.

Belarus’s role in the Ukraine-Russia conflict

Before reading about the Belarus Sanctions, first, let’s understand the role of Belarus in the Russian-Ukraine Conflict. The country of Belarus has an interesting (and probably, rather unfortunate) geographical location- it is situated just west of Russia and northwest of Ukraine, sharing a border with both countries. Being in such close proximity to two warring countries, Belarus was expected to take a stance that would affect its wellbeing and protect its citizens from being caught in the crossfire.

However, it seems that Belarus was privy to Russia’s intentions with Ukraine from the very beginning, after it was reported that the country allowed thousands of Russian soldiers to assemble at its shared borders with Ukraine under the guise of a mere military exercise. The country is also suspected to be in arms with the Kremlin, showing its support by providing inside aid.

The joint military exercise, which was supposed to end in February 2022, was extended to continue until the Ukraine attack. This began to attract attention to the ‘exercise’, with many world leaders calling it out as a threat to International peace with violent undertones. The exercise began to garner suspicion from European leaders as a probable attempt to invade Ukraine after eight years of open hostility, up until Putin announced his intentions to attack Ukraine on 24th February and revealed its true nature.

Though the Belarusian Minister of Defence, Viktor Khrenin, released a statement to cover up Belarus’s tracks, the damage was already done- the world now viewed Belarus as Russia’s ally in one of the most heinous acts of invasion committed since World War II. It was also discovered that the government altered the Constitution of Belarus to allow the permanent placement and deployment of Russian nuclear weapons and forces in their territory. This all could be the possible reason for the Belarus Sanctions.

Belarus Sanctions in depth

The EU, the US, and other parts of the world came together to place sanctions upon Russia and its allies in a show of solidarity against the Ukraine attack. Being a willing accomplice to the invasion, the EU put together several sanctions to strike Belarus where it would hurt- by restricting trade with its most important sectors.

This is not the first time Belarus has faced the threat of sanctions from the EU, as sanctions were already placed on it following the fraudulent Presidential elections of 2020 that saw Aleksandr Lukashenko retain his seat as Belarus’s only president till date. EU countries have since then extended their sanctions to ban the import of goods from Belarus’s tobacco, timber, steel, iron, fuel, and cement sectors, which contribute heavily to the country’s economy.

It also imposed sanctions on dual-use goods (materials that can be used by both civilians and the military, like chemicals, certain software, biological tools, etc and may cause more harm than good in the wrong hands) that could be used by the military to cause further havoc. In this manner, over 70% of Belarus’s exports were placed under blocking statutes, severely hindering their economic flow. To put it into perspective, that 70% amounts to around 5.9 billion euros- now that’s a lot of money to lose out on!

The EU further threatened to sanction any Belarusians found assisting Russia in their Ukraine Invasion by any means, and punish them severely for their actions.

Some other important Belarus Sanctions declared by European Union-

  • Banning five major Belarusian banks from using the International communication platform SWIFT
  • Prohibitions on any countries or individuals conducting transactions with the Central Bank of Belarus
  • Removing and voiding all contracts with the Belarusian financial sector, including pre-existing ones
  • Prohibiting the supply of high-technology goods and machinery to Belarus to prevent their misuse
  • Cutting off the flow of any notes with Euro denominations to Belarus to show their staunch disapproval
  • Sanctions targeting 22 individuals were found to be directly involved with the Russian attack and the military.

A complete list of the individuals and entities penalized in the Belarus Sanctions is available here

Other Belarus Sanctions

Following in the footsteps of the EU, other major players like the US and Canada also placed their own sanctions on Belarus. Similar to the EU Sanctions, these sanctions prohibit any citizens from engaging in trade with any individuals or entities from Belarus, engaging in trade with them, or providing them with financial aid. They are also prohibited in taking part in any import-export activities with any Belarusian firm or individuals.

The main goal of the US is to cut off Russia and Belarus from access to any vital technology, financial tools, or industrial aids in order to hinder their growth and hold them accountable for their actions.

Belarus’s Current Stance

The President of Belarus, Aleksandr Lukashenko, has shown his apparent support for Russia and continues to aid them in their war against Ukraine. However, the citizens of Belarus disagree with their country’s official stance and have been protesting against the military’s involvement in the war due to the placing of sanctions and their effect on normal society. Citizens have been hoisting and waving the Ukrainian flag in major cities, and anti-war protests continue to be held in many parts of the country. The Belarusian government has arrested over 170 individuals attached to such protests, showing their clear support for Russia.

Conclusion on Belarus Sanctions

As the world watched with bated breath, Russia launched its long-suspected attack on Ukraine in March of this year. Belarus, which shares common borders with both countries, was found to be assisting Russia by allowing its military to set up camp on its territory and allow it to set up its military bases and deadly nuclear weapons on its soil. Though the government of Belarus attempted to cover up its involvement in the Russian war by writing the military activity off as a joint exercise, it was soon revealed that Belarus intended to aid Russia in its invasion attempts right from the start and was a willing accomplice in the attack.

In response to Belarus’s unforgivable actions that led to inconceivable bloodshed and the loss of thousands of innocent lives, the EU placed it under a number of trade and financial-related sanctions in order to hinder its economy and punish the government for its crimes. This is not the first time the EU has placed sanctions on the country, with it simply expanding on the existing sanctions it placed on Belarus after the rigged Presidential elections of 2020.

 

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