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Belarusian regime targeted

On Thursday, the Treasury Department announced that OFAC, in response to the Lukashenka regime’s blatant disregard for international norms and the wellbeing of its own citizens, has designated 20 individuals and 12 entities and identifying three aircraft as blocked property pursuant to Executive Orders (E.O.) 14038 and 13405.

As part of yesterday’s action, Treasury also imposed restrictions on dealings in new issuances of Belarusian sovereign debt in the primary and secondary markets, aligning with actions recently taken by allies and partners. OFAC has issued a new Belarus-related directive to hold the Lukashenka regime accountable for its actions and align with recent actions by U.S. partners and allies. Directive 1 under E.O. 14038 prohibits transactions in, provision of financing for, or other dealings by U.S. persons or within the United States in new debt with a maturity of greater than 90 days issued on or after December 2, 2021, by the Ministry of Finance of the Republic of Belarus or the Development Bank of the Republic of Belarus. OFAC also issued eight new FAQs and updated another in connection with yesterday's actions.

For links to Directive 1, a new Belarus General License, and the new and revised FAQs, plus identity information on the individuals, entities and aircraft designated by OFAC, see the December 2, 2021, BankersOnline OFAC Update.

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