ANNOUNCEMENT 03 Jun 2022

In June 2022, the EU adopted additional financial restrictions against Belarus in the context of the Russian invasion of Ukraine.

 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

EUR-Lex, Official Journal of the EU. "Council Regulation (EU) 2022/877 of 3 June 2022 amending Regulation (EC) No 765/2006 concerning restrictive measures in view of the situation in Belarus and the involvement of Belarus in the Russian aggression against Ukraine". 03/06/2022. Available at:
https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.L_.2022.153.01.0011.01.ENG&toc=OJ%3AL%3A2022%3A153%3ATOC

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 SECTORS

 
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AFFECTED PRODUCTS

 
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