TRUMP ADMINISTRATION LIFTS SANCTIONS AGAINST BELARUSSIAN FINANCE MINISTRY

Citing Belarus’ release of 250 political prisoners last week, the Trump administration lifted sanctions against the Belarusian Finance Ministry today. The lifting of sanctions was part of a deal struck last week in Minsk during a meeting between Presidential Envoy for Belarus John Coale and Belarusian President Alexander Lukashenko.

A spokesperson for the U.S. State Department speaking on background to The (b)(7)(D) hailed the release of the 250 prisoners and the overall release of 500 political prisoners by the Belarusian government since President Trump took office and stated that the Department would provide further calibrated sanctions relief for the Belarusian financial sector.

The State Department further indicated that the United States “made clear” that the sanctions relief could not be used to evade any other sanctions imposed by the U.S. or support Russia’s war effort in Ukraine.

The sanctions lifted today were imposed in December 2021 as Russia prepared its full-scale invasion of Ukraine. During the invasion in February 2022, Lukashenko allowed large Russian units to invade Ukraine from Belarusian territory in a failed attempt to take Kyiv. The Russian troops were thrown back after a two-month battle.

The Office of Foreign Assets Control also lifted sanctions on four companies working in Belarus’ fertilizer sector Belaruskali, Belarusian Potash Company, and Agrorozkvit at a time when the U.S. war against Iran has caused disruptions in fertilizer markets. A significant amou

nt of the world’s fertilizer supply passes through the Strait of Hormuz, currently closed by Iran. Average retail anhydrous ammonia prices in Illinois are now over $1,000 a ton up nearly 20% from pre-war prices.

The Treasury Department did not return a request for comment at press time.