U.S. Imposes Sanctions Targeting Belarusian Banking and Defense Sectors, Belarusian Officials
Today, the Treasury Department’s Office of Foreign Assets Control (OFAC) imposed blocking sanctions on 24 Belarusian individuals and entities for supporting or otherwise facilitating Russia’s actions in Ukraine, including two significant Belarusian banks, a series of defense companies, and government officials.
These individuals and entities have been added to OFAC’s List of Specially Designated Nationals (SDN). U.S. persons are broadly prohibited from conducting business with SDNs or entities owned 50 percent or more by SDNs, and U.S. persons must formally “block” (freeze and report) any property or interests in property that are in an SDN’s possession or control.
OFAC’s latest additions to the SDN list include:
- Two state-owned Belarusian financial institutions – Belarussian Bank of Development and Reconstruction Belinvestbank Joint Stock Company and Bank Dabrabyt Joint-Stock Company;
- 11 businesses operating in the defense and security industries of the Belarusian economy – Minsk Wheeled Tractor Plant, State Authority for Military Industry of the Republic of Belarus, State Owned Foreign Trade Unitary Enterprise Belspetsvneshtechnika, OJSC KB Radar-Managing Company Holding Radar System, JSC 558 Aircraft Repair Plant, Public Joint Stock Company Integral, Industrial-Commercial Private Unitary Enterprise Minotor-Service, OOO Oboronnye Initsiativy, OKB TSP Scientific Production Limited Liability Company, LLC Synesis, and LLC 24x7 Panoptes;
- Five individuals operating in the defense and security industries of the Belarusian economy;
- Two Minsk-based companies – Limited Liability Company Belinvest-Engineering and CJSC Belbizneslizing; and
- Four Belarussian officials.
Please contact our sanctions and export control team with any questions about ensuring compliance with the Belarus sanctions program.