The international rating agency S&P Global Ratings did not become the Resistance of the rating of Belarus in the sphere of regulation by Minsk of the payment on Eurobonds Belarus-27 in the national currency and confirmed the long-term and short-term foreign currency ratings at the level of “CC / C”, remained in their CreditWatch list under review with “negative” “forecast. This was reported on Saturday, July 16, in the press service of S&P.
The ratings may be revealed to the pre-default level if the payments on bonds with liability in 2027 are not made in dollars, approximately at the end of July, the Interfax agency specified.
“We understand that the authorities are currently requiring US dollar bond payments to be made during the contractual grace period using alternative rates,” S&P continued.
The next publication of the sovereign rating of Belarus is scheduled for September 16.
Losses of the Belarusian economy due to the district of the West
The volume of the expected economy of Belarus due to the deviation of the West is about 16-18 billion dollars a year. Such data were given by the Prime Minister of the country Roman Golovchenko. He was quoted by the state agency BelTA on May 15.
According to Golovchenko, because of the coverage, Belarus lost the opportunity to sell its goods and the countries of North America. To compensate for the losses, Minsk was going to reorient export flows to other markets – “including among Asian, African, Asian, Eastern and Arab tides,” the prime minister pointed out.
application previously announced the composition of the sixth package, which included over 60 individuals and 18 organizations from the Russian Federation and Belarus. The document was published on June 3 in the Official Journal of the EU and is expected to come into force.
See also:
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The war in Ukraine and the verdict of the West against Minsk
For helping in the war
After Russia’s invasion of Ukraine, Western countries imposed unprecedented sanctions not only on Moscow, but also on Minsk – for complicity in the war. The EU blacklist includes 22 military leaders from Belarus, including assistant defense minister Leonid Kasinsky and Igor Mozhilovsky. Earlier, another 20 officials and military personnel were banned from entering the EU and their accounts and property were frozen on its territory.
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The war in Ukraine and the verdict of the West against Minsk
Wood, cement, tobacco
The EU has expanded restrictions on the supply of dual-use goods and technologies to Belarus, as well as goods and technologies that regulate the development of the military and defense security of the Republic of Belarus. The export from Belarus of products made of cement, iron, steel and rubber, potassium chloride, as well as the import of goods for tobacco products, internal combustion and other products into the Republic of Belarus is prohibited.
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The war in Ukraine and the verdict of the West against Minsk
Euro banknotes
Three Belarusian banks – Belagroprombank, Dabrabyt and the Development Bank of the Republic of Belarus, as well as their subsidiaries, were disconnected from the SWIFT system. The EU banned transactions with the National Bank of the Republic of Belarus, as well as the financing of trade and investment in the country. low banks are allowed to accept deposits from citizens of Belarus in excess of 100,000 euros. The EU will also not supply euro banknotes to Belarus.
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The war in Ukraine and the verdict of the West against Minsk
Funding programs
The European Bank for Reconstruction and Development (EBRD) has suspended the access of Russia and Belarus to their finances and expertise. This means refusing to finance new projects. In addition, the bank enjoys all the rights to suspend or cancel payments for existing projects. Earlier, the EBRD closed its offices in Moscow and Minsk. All their programs in the Russian Federation and the Republic of Belarus and the World Bank.
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The war in Ukraine and the verdict of the West against Minsk
US sanctions
The United States introduced against 24 Belarusian individuals and legal entities involved in the Russian invasion of Ukraine. Among them are two state-owned banks – Belinvestbank and Dabrabyt, as well as a number of defense industry enterprises and security agencies. Personal sanctions affected the Minister of Defense of the Republic of Belarus Viktora Khrenin, State Secretary of the Security Council Alexander Volfovich and businessman Alexander Zaitsev from Lukashenka’s entourage.
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The war in Ukraine and the verdict of the West against Minsk
Defense, aerospace and maritime sector
On April 1, Washington was included in the sanctions list of organizations associated with the defense, aerospace and maritime sectors. Among the Belarusian organizations and enterprises that fell into it are the Internal Troops of the Ministry of Internal Affairs of Belarus, the Alfa association of the KGB, the Minsk Wheel Tractor Plant, the State Military Industrial Committee of the Republic, Agat-Electromechanical Plant OJSC, Beltechexport CJSC and others.
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The war in Ukraine and the verdict of the West against Minsk
Luxury items
In addition, the US Department of Commerce banned the supply of 600 types of luxury items not only in Russia, but also in Belarus. The embargo includes alcohol, cosmetics, perfumes, clothing, accessories, shoes, furs, bags, carpets, antiques, jewelry, motorcycles and cars.
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The war in Ukraine and the verdict of the West against Minsk
Swiss sanctions
Switzerland also tightened sanctions against Belarus. The export to Belarus of dual-use goods and goods that meet the standards of the military-technical development of Belarus is prohibited. The list of sanctioned products for import from Belarus has also been expanded: these are products made of wood, rubber, iron, steel and cement. A ban on financing trade and investment in the Republic of Belarus, as well as transactions with the National Bank.
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The war in Ukraine and the verdict of the West against Minsk
Japanese embargo
Japan imposed an embargo on exports to the Russian Federation and the Republic of Belarus of almost 300 types of goods and technologies: semiconductors, equipment for communications and oil refining, modern types of materials, programs for machine tools. The black list includes 12 organizations, including Synesis and Beltechexport, and 12 individuals – Alexander Lukashenko’s sons Viktor and Dmitry, Lukashenka’s press secretary Natalya Eismont, Interior Minister Ivan Kubrakov and others.
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The war in Ukraine and the verdict of the West against Minsk
The Lukashenka family is blacklisted in Australia
The Australian Foreign Ministry put on Alexander Lukashenko, his wife Galina and son Viktor (pictured left). In addition, the Australian government has abolished the right to most favored nation (MFN) tariff treatment. From April 25, additional customs duties in the amount of 35% on the import of goods from Russia and Belarus begin to operate in the country.
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The war in Ukraine and the verdict of the West against Minsk
Other calls of the West against Belarus
New cases of application to a number of restrictions adopted against Minsk for complicity in illegal cases, in which the West accuses the Lukashenka regime. In addition, the sanctions were introduced in response to the dispersal of global protests and ongoing repression in Belarus after the 2020 elections. Read about them in the article “Migrants, Ryanair, repression: what are the demands of the West against Minsk?”
Author: Anna Shtork