Mr. Sanctions

Category: Belarus

  • June 8, 2026: OFSI issues new Russia/Belarus corporate actions FAQ

    Office of Financial Sanctions Implementation HM Treasury

    Mandatory corporate action FAQ added

    Today, OFSI has published FAQ 187 on how mandatory corporate actions (MCAs) engage the Russia and Belarus Regulations, providing clarity for those trading transferable securities and money market instruments.

    The FAQ explains that new instruments, created through an MCA will not automatically engage Regulation 16 of the Russia Regulations or Regulation 15A of the Belarus Regulations. Whether these provisions apply will depend on the specific facts, and the FAQ includes a worked example illustrating how this assessment may be made.

    This guidance supports firms to continue trading whilst remaining compliant with UK sanctions.

    Frequently Asked Question 187:

    187. For the purposes of regulation 16 of the Russia Regulations and regulation 15A of the Belarus Regulations, how should the “date of issue” of a transferable security or money market instrument be determined, including where instruments or securities issued pursuant to a mandatory corporate action (MCA) relate to securities or instruments issued prior to the dates referred to in regulations 16 and 15A?

    These regulations prohibit dealing with transferrable securities and money market instruments issued by certain persons on or after certain specified dates. Dealing with transferrable securities and money market instruments that were issued before the specified dates is not prohibited, provided the activity does not otherwise breach the Russia Regulations or the Belarus Regulations (e.g. by making funds available to a designated person).

    In some cases, a new transferable security or money market instrument is created in respect of an instrument or security issued prior to the specified dates referred to above (including in the context of an MCA) which could then potentially be caught by the relevant regulations. Determining whether this is the case is fact-dependent and will be considered by OFSI on a case-by-case basis (but determinations will only be made if relevant to specific OFSI casework). In that consideration, OFSI will place significant weight on whether an issuance (including as part of an MCA) results in finance being raised for the issuer.

    For example, regulation 16 or regulation 15A may not apply if:

    • Shares subject to regulation 16 (or regulation 15A) originally issued prior to the relevant date in regulation 16 (or regulation 15A) become subject to a mandatory stock split after that date;
    • that stock split does not raise new finance for the company undertaking it; and;
    • there is no material change to the rights and/or value of the shares.

    Added on: 8 Jun 2026

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  • March 26, 2026: The Designation Half of Today’s OFAC Update

    Belarus Designations Removals; Issuance of Belarus General License; Rescission of Belarus Directive 1

    Treasury Press Release: Treasury Eases Belarus Sanctions Following Release of Political Prisoners

    Delistings:

    OFAC Program: BELARUS-EO14038 Executive Order 14038 of August 9, 2021, “Blocking Property of Additional Persons Contributing to the Situation in Belarus”

    BELARUSKALI OAO (a.k.a.: “BELARUSKALI”), Korzh Street 5, Soligorsk 223710, Belarus; Identification Number: 600122475.

    OPEN JOINT STOCK COMPANY BELARUSIAN POTASH COMPANY (a.k.a.: ADKRYTAYE AKTSYYANERNAYE TAVARYSTVA BELARUSKAYA KALIYNAYA KAMPANIYA; a.k.a.: AKTSIONERNOYE OBSHCHESTVO BELORUSSKAYA KALIYNAYA KOMPANIYA; a.k.a.: BELARUSIAN POTASH COMPANY; a.k.a.: “BPC”), Masherova Ave, Building 35, Room 644, Minsk 220002, Belarus; Registration Number: 192050251; Organization Established Date: 13 Sep 2013.

    AGROROZKVIT LLC (a.k.a.: AGROROZKVIT TOV; a.k.a.: TOVARYSTVO Z OBMEZHENOYU VIDPOVIDALNISTYU AGROROZKVIT), Bud. 44b Inshe Poverkh 2, vul. Evgena Konovaltsya Pechersky R-N, Kyiv 01030, Ukraine; Registration Number: 406289726553; Organization Established Date: 07 May 2016.

    OFAC Program: RUSSIA-EO14024 Executive Order 14024 of April 15, 2021, “Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation”

    LASZLOCZKI, Imre, Budapest, Hungary; DOB: 26 Sep 1961; POB: Paks, Hungary; nationality: Hungary; Gender:Male (individual).

    Source List:

    • ofac.treasury.gov
    • home.treasury.gov
    • reform.news
    • humanrightsfirst.org

    Note: the Treasury press release was not listed on the OFAC Recent Actions page listing – Gemini found it on the Treasury website.

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  • March 26, 2026: The Regulatory Half of today’s OFAC update

    Today’s update includes:

    The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is issuing Belarus General License 14, “Authorizing Transactions Involving Belarussian Bank of Development and Reconstruction Belinvestbank Joint Stock Company and Certain Additional Entities.”

    OFAC has also determined, in consultation with the U.S. Department of State, that circumstances no longer warrant the prohibitions imposed on the Ministry of Finance of the Republic of Belarus and the Development Bank of the Republic of Belarus under Directive 1 pursuant to sections 1(a)(ii), 1(b), and 8 of E.O. 14038. Accordingly, OFAC has rescinded Directive 1 under E.O. 14038.

    Pursuant to the following SDN removals, OFAC has archived Belarus General License 13 as it is no longer applicable.

    Here’s the new GL:

    belarus_gl14Download

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  • February 26, 2026: SECO agrees to 19th EU sanctions Russia and Belarus sanctions package

    Sanctions: Russia and Belarus

    The Federal Council has on 25. February 2026 decided to implement the further measures of the 19. European Union (EU) sanctions package against Russia. The new measures take effect on 26. February 2026.

    Already on the 12th On December 1, 2025, the Federal Council had included 64 natural persons and organizations in the Swiss sanctions list and adopted the first measures of the 19th century. Sanctions package adopted. Thus, around 2600 natural persons, companies and organizations in Switzerland are currently subject to the asset freeze in connection with the situation in Ukraine. The corresponding sanctions list is identical to that of the EU.


    Among other things, measures were taken in the energy and financial sector as well as measures in the trade sector. To take into account the growing importance of cryptocurrencies for the Russian war economy, the provision of all crypto services to Russian nationals and companies is now prohibited. In addition, the Federal Council has decided on a ban on transactions with certain ruble-backed crypto assets, such as the stablecoin “A7A5”. At the same time, the Federal Council has extended the ban on the use of certain specialized messaging services for payment transactions. In the trade area, the list of goods that contribute to the military and technological strengthening of Russia has been expanded, including metals for the construction of weapons systems and products used in the manufacture of fuels. In addition, the Federal Council has subjected other goods that are important to Russia to the purchase and import bans. Newly recorded are, for example, acyclic hydrocarbons, which represent a significant source of income for Russia.


    In accordance with the provisions of the Regulation, financial intermediaries are required to implement the prohibitions, to block the assets of the sanctioned persons and to report the business relationships concerned to SECO. The report to SECO does not relieve a financial intermediary from making additional clarifications in the event of suspicion in accordance with Art. 6 GwG and, if he cannot clear them, to report it immediately to the notification office for money laundering in accordance with Art. 9 GwG.

    The

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  • December 15, 2025: OFAC Issues a new Belarus General License

    Belarus General License 13 – Authorizing Transactions Involving Joint Stock Company Belarusian Potash Company, Agrorozkvit LLC, and Belaruskali OAO – issued today:

    belarus_gl13Download

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