ECONOMY

EU agrees sanctions on 14 oligarchs, blocks transactions with Belarus central bank

EU agrees sanctions on 14 oligarchs, blocks transactions with Belarus central bank

The European Union has agreed to impose sanctions on 14 more Russian oligarchs, freeze relations with Belarus’ central bank and curb three top lenders in that country, the EU Commission said on Wednesday.

The new sanctions, imposed over Russia’s invasion of Ukraine which the EU says is backed by Minsk, include the exclusion from the SWIFT banking system of Belarusian banks Belagroprombank, Bank Dabrabyt, and the Development Bank of the Republic of Belarus, the Commission said in a statement.

The sanctions also “prohibit transactions with the Central Bank of Belarus related to the management of reserves or assets, and the provision of public financing for trade with and investment in Belarus”.

They also impose sanctions on another 160 individuals, including  14 oligarchs and prominent businesspeople involved in key economic sectors providing a substantial source of revenue to the Russian Federation, including the metallurgical, pharmaceutical, telecom and digital industries.

[Reuters]