EU sanctions don’t bother Belarusian oligarchs?

Lukashenka’s money bags are getting better-off.

One month since the European Union introduced the sanctions against the chief companies of two Belarusian oligarchs Yury Chyzh from Traipl and Anatol Tsiarnauski from Yunivest-M, the oligarchs have only improved their positions in the rating of Minsk’s leading tax-payers, Zavtra Tvoyey Strany reports.

As for January-April 2012, Traipl is the 3rd in the top-ten of Minsk’s’ tax-payers, after Beltransgaz and Lukoil-Byelorussia, while Yunivest-M is on the 5th position. At the same time, for the period January-Amrch 2012, Traipl was on the 4th, and Yunivest – on the 7th positions.

The EU sanctions against Yury Chyzh, Anatol Tsiarniauski and a number of their companies came into force on the 23 March 2012. Too little time has gone to assess the effects of the European Union actions against Lukashenka’s moneybags. However, judging by the positive dynamics in the tax-payers rate, these businessmen and their companies are doing fine.

During the past month, Yury Chyzh announced two major projects that are not related to the European Union: establishment of a joint venture for assembly of BelAz vehicles in Kemerovo region in Russia, and construction of an assembly factory of Minsk Tractor Factory vehicles in Pakistan. Moreover, the businessman has a huge number of orders for construction in Belarus, and operates in the Ukrainian market of oil products.

Meanwhile, the EU sanctions weren’t targeted at all oil businessmen associated with Yury Chyzh. For example, Belneftegaz is another company that came 4th on the list of Minsk’s tax-payers, and that wasn’t included to the black list of European officials.

The improved position of Yunivest and Anatol Tsiarnauski can be caused by the increased amounts of raw materials from the Russian oil company Rosneft.

The results of the first quarter of 2012 show that Rosneft has become the major supplier of oil to Belarusian oil-recycling companies. During a long time, Rosneft that doesn’t have any affiliates in Belarus, has been cooperating with Yunivest who is controlled by former managers of Slavneft.

Neither Traipl nor Yunivest were among the top-ten tax-payers 2011. Their way up began in January 2012, when Russian companies renewed toll manufacturing of raw oil for Belarus.