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10 august 2023

The new Law – new options for restrictive measures

In addition to the special measures already taken (Edict No. 93 dated 14.03.2022  “On additional measures to ensure the stable functioning of the economy”, Edict No. 137 dated 07.04.2022 “On Executive Documents”), the Law “On the Application of Special Restrictive Measures” came into force on July 31.

Main innovations are:

  1. Restrictive measures may be imposed on a number of States (USA, Canada, EU countries and others according to the list) and persons having ties with these countries, in particular:

a) prohibitions or restrictions on (1) import into Belarus, transit, sale, export from Belarus of certain goods, services of unfriendly countries; (2) use of the territory of Belarus, including airspace; (3) financial transactions;

b) moratorium on contracts execution;

c) suspension of international treaties with unfriendly countries and cooperation with persons from these countries;

d) other measures as decided by the Government.

  1. The exclusive competence of the Belarusian courts expands, their jurisdiction is added with business disputes involving Belarus or its residents, if unfriendly actions have been committed against them or such actions are the basis for disputes.
  2. A new method of protecting interests is being introduced - the economic court may impose a ban on litigation on disputes above in a foreign court. If a foreign court makes a decision despite the ban, the decision will not be enforced in Belarus.