Belarus

Belarus is subject to a range of sanctions imposed by the United States, European Union, United Kingdom, Canada, Switzerland, Ukraine and other jurisdictions. These measures target designated individuals, entities and sectors of the Belarusian economy and have been expanded significantly since 2020.

Whilst many sanctions measures are broadly aligned, important differences exist between the US, UK, EU and other sanctions regimes. Particular care should therefore be taken when assessing transactions involving Belarusian counterparties, financial institutions, cargoes, vessels or other interests that may be subject to sanctions restrictions.

Members should conduct appropriate due diligence, consider all trade restrictions and ensure that all parties associated with a proposed transaction are screened against applicable sanctions lists and restrictions before undertaking any Belarus-related trade. Failure to comply with applicable sanctions may result in legal, regulatory and insurance consequences.

This summary is intended as a high-level overview only and does not constitute legal advice. Sanctions regimes change frequently and Members should seek up-to-date advice before undertaking any trade that may give rise to sanctions concerns.