Following the Presidential elections in Belarus in August 2020 and subsequent actions by the Belarusian authorities suppressing protests, relations between Belarus and both the European Union and US have deteriorated significantly. The EU and several other European states have imposed sanctions on Belarus’s government officials and commercial enterprises. Belarus responded by imposing counter-sanctions on individual Western companies and creating conditions that severely impact its neighboring states.
Currently, the Government of Belarus is still developing the ways in which its restrictive measures should work against countries and companies that Belarusian authorities suspect of taking unfriendly steps against Minsk. Those decisions already taken by the Government contain contradictions that will need to be clarified in the near future.
Should relations with the West deteriorate further, sanctions may be imposed more actively, although this would also negatively impact Belarus. Generally, Western companies operating in Belarus are coming under increased risks of being hit by sanctions.
Please follow the link to read the full overview of the recent developments in Belarus and recommendations for corporate GR functions, prepared by GCA member Kesarev.