On 2 December, the EU and US announced new sanctions related to Belarus.

The EU imposed restrictive measures on an additional 17 individuals and 11 entities including high-ranking political officials and members of the judiciary. Additionally, it has targeted companies that have helped organise border crossings, such as tour operators, hotels and the state airline, Belavia. The EU has also designated two chemical and oil companies - Grodno Azot and Belorusneft. The restrictions require EU persons to freeze assets and cease transactions with the designated persons.

The US has also added 20 individuals and 11 entities to the Office of Foreign Assets Control (OFAC) list. Additionally, it issued Directive 1 under Executive Order 14038 imposing restrictions on transactions in or financing for, dealings in new debt with maturity greater than 90 days issued by the Belarusian Ministry of Finance and the Belarusian Development Bank. The Ministry of Finance and Development Bank are not sanctioned persons and other transactions remain permitted. Please click here for further information.

The EU and UK issued broader "sectoral" type restrictions on dealing in credit transactions related to the Belarusian government in July and August, respectively. See our previous posts here and here.