Sanctions affect 25 percent of Belarus’ economy – researcher

December 24, Pozirk. About a quarter of Belarus’ economy is directly affected by sanctions, yet their indirect influence is felt in all economic sectors, said Natalla Hančaryk, an expert affiliated with the economy ministry’s research center.

About half of 1,499 sectoral and personal sanctions against Belarus were introduced after the start of Russia’s full-scale war on Ukraine in February 2022, reads her article run in the December issue of the Belarus-based Finance, Accounting, Audit journal.

A total of 261 individuals and 37 companies are currently under sanctions, which target major industries and leading economic entities, the researcher noted. Other affected sectors reportedly include wholesale trade and goods transportation.

Sanctions disrupted about 70 percent of Belarusian exports to the European Union, she said, noting that Minsk was forced to offset restrictions by exploring new markets and trying out different delivery routes for potash fertilizers, oil and wood exports.

Belarus ranks fifth in the world by the number of sanctions after Russia, Iran, Syria, and North Korea, Hančaryk added, citing international sources. Myanmar and Venezuela conclude the list.

Over the past few years, democratic countries have imposed multiple restrictions on Belarus over human rights abuses, alleged vote rigging in the 2020 presidential election, a brutal crackdown on protesters, the forced landing of a Ryanair flight, a migration crisis at the EU border, as well as support of Russia’s war in Ukraine.

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Economy, Politics

Switzerland joins new EU sanctions on Belarus

December 23, Pozirk. Switzerland has joined the sanctions imposed by the European Union (EU) on December 16 against 26 individuals and two companies in Belarus, the Swiss State Secretariat for Economic Affairs reported. The EU and Swiss sanctions lists on …

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