IMPLEMENTATION LEVEL

Supranational

AFFECTED FLOW

Outflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 14 Jun 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 3 June 2022, the European Union adopted Council Regulation (EU) 2022/877 forbidding the provision of specialised financial messaging services used to exchange financial data to the Belarusian Bank for Development and Reconstruction (Belinvestbank), as well as their subsidiaries. The measure effectively excluded the targetted bank from the SWIFT payment system. It enters into force on 14 June 2022. 

The measure forms part of the sixth sanctions package issued by the EU against Russia and Belarus in the context of the invasion of Ukraine. It modifies Regulation (EC) 765/2006 which set the sanctions against President Lukashenko, the Belarusian leadership and officials responsible for the violations of international electoral standards and international human rights law of 2006.

EU's sanctions on Russia and Belarus 

On 3 June 2022, the EU adopted its sixth package of measures targetting the Russian Federation for its invasion of Ukraine, as well as Belarus for its involvement. The package includes 4 other regulations establishing targeted restrictive measures on Russian and Belarusian politicians and high-profile individuals, trade restrictions, as well as other capital control and financial restrictions (see related state acts). 

 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

Please report this page in case you detect an inaccuracy in its content.