Designation/Blocking Sanctions Against Belarus’s Defense and Financial Sectors
OFAC announced the blocking/designation of 24 Belarusian individuals and entities associated with Belarus’s defense and financial sectors. These actions were taken under Belarus-focused EO 14038 and included, among others:
- Belarussian Bank of Development and Reconstruction Belinvestbank Joint Stock Company (Belinvestbank)
- Bank Dabrabyt Joint-Stock Company (Bank Dabrabyt)
- State Authority for Military Industry of the Republic of Belarus (SAMI)
- State Owned Foreign Trade Unitary Enterprise Belspetsvneshtechnika (BSVT)
Any entity directly or indirectly owned 50 percent or more, whether individually or in the aggregate, by any of these entities or any of the other individuals or entities blocked under the Belarus EO is also blocked.
OFAC also issued new general licenses for Belarus: General License 6 (authorizing official US Government business) and General License 7 (authorizing the official business of certain international organizations and entities).
What to do: These designations are effective immediately, and all US persons should screen their suppliers, customers, and third-party business partners – in addition to their ultimate beneficial owners – against the new SDN List containing these individuals and entities.