EU may impose sanctions on Belneftekhim, Triple, Beltechexport, and Belaruskali

Brussels is carrying out due diligence on economic sanctions on Belarus.

As Belgium EUobserver informs with a reference to a diplomatic source, heads of mission in Minsk have sent to the EU capital a preliminary list of individuals and commercial entities to be covered by the new measures.

Diplomatic sources say petroleum products companies Belneftekhim and Triple, arms firm Beltechexport and fertiliser maker Belaruskali are in the frame.

“The list is not yet at the implementable stage. So far it's based on 'he said, she said'-type evidence. We have to make sure the companies really are owned by the people we think they are. The sanctions are being rolled out bit by bit so that we can keep up the pressure in reaction to developments,” EUobserver cites an EU diplomat.

The Belgium online newspaper notes that new sanctions are “designed to hurt President Lukashenka's state budget without precipitating a crisis in the country's fragile economy”.

“But they are unlikely to damage the president's private fortune, said to be salted away in Russian and Ukrainian banks, fish and real estate companies as well as offshore accounts in Russia and in at least one EU country,” the article says. “To track down these funds would take a serious intelligence operation and there is no EU member state right now willing to commit resources to such a task.”

The new list may be ready by the EU foreign ministers meeting in Brussels scheduled for May 23.