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Regime prepares to limit currency sales

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The new decree of the illegitimate president is the beginning of an economy of restrictions that will affect everyone. And an unambiguous signal for all those who doubted and continued to keep money in Belarusian banks

Today Pavel Latushka appealed to all Belarusians to continue the "ATM-exchange-bank" campaign and separately stressed the importance of the third step in this formula. We are talking about the withdrawal of all deposits, both foreign currency and ruble.

We have all seen how banks are reacting to our actions: ATMs are short of cash, and many exchange offices have no currency available for sale — which according to one version is an artificial supply constraint.

We may not accept this version, but on 9 July 2021 Act No 36−3 of 30 June 2020 on changes to laws on currency regulation and currency control will come into force. And to bring the current legislation in line with it, Decree No 154 was signed today.

According to the new law, the National Bank will be empowered jointly with the Council of Ministers to introduce currency restrictions "in case of a threat to economic security, including the stability of the financial system, if the situation cannot be resolved by other economic policy measures" - up to a ban on currency and currency exchange transactions for up to one year.

We have written about the current situation in the economy more than once — and we have warned about impending restrictions. Today it is important for all of us to understand — apart from restrictions, neither the National Bank nor the regime have adequate methods to regulate the economy. And to keep the power the regime will do anything — from the currency sales ban, to the freezing and even expropriation of deposits. Here we should also remember the opening of safe deposit boxes at Belgazprombank in June 2020. The contents of the boxes have still not been returned to everyone.

So, are we ready to wait until the regime gets hold of our accounts and deposits? Obviously, this question should become rhetorical for every Belarusian, and not a single one of our deposits should remain in the Belarusian banks.

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