US imposed sanctions on three more Belarusian companies

• 16.05.2008, 12:37

On 15 May the US Administration has imposed economic sanctions on three Belarusian companies – the Belarusian Oil Trading House, Lakokraska and Steklovolokno. According to the Department of the Treasury, the financial assets of those companies are subject to freezing, should any such assets be found in the US. US-based corporations and individuals are prohibited from conducting any transactions with these entities.

It should be reminded that the US Department of the Treasury imposed sanctions against Belneftekhim company on 13 November 2007. In particular, the sanctions provide freezing of any bank accounts of these entities that are within US jurisdiction and Belneftekhim representative offices in Germany, Latvia, the Ukraine, Russia, and China, and its wholly-owned US subsidiary Belneftekhim USA, Inc.

According to the guidance to the sanctions issued in March 2008, the sanctions were also extended to the entities, where Belneftekhim has direct or indirect income of at least 50 per cent.

After that ambassador Mikhail Khvastou was recalled from Washington for consultations. On 12 March US ambassador Karen Stewart left Minsk on the insistence of Belarus. The US was recommended to reduce its embassy staff. In response the US embassy suspended visa issuing. 17 American diplomats left Minsk on 27 March.

On 31 March Belarus decided on further reducing of its embassy staff in Washington and proposed the US to do the same. The US refused to cut down the number of its diplomats. The Ministry of Foreign Affairs of Belarus declared 10 American diplomats persona non grata. They left Belarus on 3 May.