US puts sanctions on Belarusian state owned oil, petrochems, petroleum and chemical conglomerate

US puts sanctions on Belarusian state owned oil, petrochems

01-Feb-11

The US Monday said it was putting sanctions on doing business with the Belarus state-owned oil and petrochemicals companies because of Western concerns over how the Lukashenko government is treating its opposition since a December 19 election, as per Platts. "The disproportionate use of force and initial detentions of hundreds of demonstrators; charging of five opposition presidential candidates; ongoing raids against civil society, media and political parties; the closure of the OSCEs office in Minsk; and a flawed vote count all represent major steps backwards for the country," the US Department of State said in a statement. These actions oblige the United States and others in the international community to act.” The US statement characterized the actions of the government of Belarus as a "brutal crackdown." The US response includes revoking a general license that had temporarily authorized US persons to engage in otherwise prohibited transactions with Lakokraska OAO and Polotsk Steklovolokno OAO, two blocked subsidiaries of Belarus' largest state-owned petroleum and chemical conglomerate, Belneftekhim. Now, all transactions with Belneftekhim and its subsidiaries are blocked pursuant to Executive Order 13405, the State Department added. In addition, the US "is significantly expanding" the list of Belarusian officials subject to travel restrictions, preventing their entry to the US, and looks to impose financial sanctions against additional Belarusian individuals and/or entities. "The criteria for inclusion on these lists are participation in actions or policies that undermine democratic processes or institutions, or responsibility for human rights abuses related to political repression," the State Department said.