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Analyst: U.S. Sanctions In Banking Sector Will Be Most Tangible For Lukashenka's Regime

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Analyst: U.S. Sanctions In Banking Sector Will Be Most Tangible For Lukashenka's Regime

Such measures are already under consideration.

The U.S. sectoral sanctions in the financial sector may become the most tangible pressure on the Lukashenka regime, says Katerina Glod from the Center for European Policy Analysis.

"I think the strongest sectoral sanctions of the U.S. must be related to the financial banking sector," said the political analyst on the air of Dozhd. "And I think that such sanctions are under consideration as well. Basically, all transactions in Belarus are carried out in U.S. dollars, take oil refining and potash, for example. And a ban on receiving currency from the proceeds, say, in trade with China or with India would have a big effect.

Also, the U.S. sanctions would have had an effect on the countries of the Middle East, which continue to invest in Belarus, for example, the UAE, Turkey, and the countries where Belarus is now trying to develop trade actively, this includes Africa.

I'm not talking about Belarus' disconnection from SWIFT, I mean some bans, restrictions on transactions in U.S. dollars".

The political analyst believes that it was the delay in sanctions that gave Lukashenka's regime a chance to crack down on civil society.

"Unfortunately, the sanctions were not serious until the last moment. We have seen sectoral sanctions only in the last month. And the biggest problem is that these sanctions will not be in effect until the end of this year, and in some cases longer, until the end of contracts.

Precisely this interval allowed Lukashenka to mop up the civil society. If the sectoral sanctions had started to take effect immediately in full, I think we would not have seen such strong pressure on the civil society. Perhaps the American sectoral sanctions, aimed at the financial sector, will put greater pressure on the Lukashenka regime," believes Ekaterina Glod.

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