Belarus’ Cabinet of Ministers on Tuesday banned investors from “hostile states” from selling their shares in 190 Belarusian companies. This comes in response to Western sanctions against the country.
The shareholders of these Belarusian companies are “persons from foreign countries who commit hostile actions against Belarusian legal entities and (or) physical persons”, indicates the document published on the National Internet Portal of Legal Information. These investors are “Prohibited from alienating their shares… in the authorized funds of these legal persons.
The regulations stipulated that in order to protect the interests of Belarus, “the shares are blocked in the custody (deposit) accounts of their owners.”
The announcement comes as the UK announced on Tuesday that it would introduce new economic, trade and transport sanctions against Belarus over its support for Moscow. London would also ban more Belarusian companies from issuing debt and securities in London.
EU member assesses impact of stopping imports from Russia and Belarus
Britain has already raised import tariffs by 35% on a range of products from Belarus and sanctioned Belarusian President Alexander Lukashenko and senior government officials.
Meanwhile, Russian President Vladimir Putin said last week that the “unprecedented political and social pressure” of the West, and the sanctions imposed on the conflict in Ukraine, push Belarus to integrate more quickly into Russia.
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