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Economic pressure on the regime Q&A, part 2

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In our past publication, we have discussed what all of us can do for sanctions to be imposed and what effect this might cause. Today we will be answering your remaining questions


1) Why have certain state enterprises still not been sanctioned by the US?

Let's take Belaruskali (The Belarusian Potassium Company) as an example. When in 2006 sanctions were imposed on the Belarusian petrochemical industry for the first time, the company was a subsidiary of Belneftekhim, it was duly sanctioned as such. In 2015, the majority of political prisoners were freed by the regime, and sanctions were consequently paused. This gave the regime a 'breath of fresh air' lengthy enough to split Belaruskali from Belneftekhim. And now, when new sanctions are to be introduced, the former will not be sanctioned automatically. However, we are working hard to prevent the regime from exploiting this loophole. A letter concerning the matter has already been sent to the OFAC.

We are also working on including other enterprises, including state banks, into the sanctioned enterprise lists. 

2) Is there a need for European sanctions if there are already those imposed by the US?

There is. We can use Belneftekhim as an example yet again. Without EU sanctions, it may sell oil or other produce through a Dutch intermediary using the Euro as a medium of exchange, which will not be a violation of US sanctions as long as American banks or their subsidiaries are not involved. EU sanctions will block this loophole as well.

3) What does the NAM do to 'sync' sanction lists?

As per the Democracy Act, the US is obligated to coordinate its sanction-related measures, including sanction lists, with European allies. The NAM contributes by providing the OFAC, the State Department, the State Treasury, committees of the House of Representatives and the Senate as well as European regulatory authorities with relevant information.

Still, not only sanction lists are to be synchronised. What is more important is to synchronise mounting external as well as internal economic pressure on the regime. The best way to do so currently is to participate in 'ATM — Exchange — Bank', our easy to follow 3-step campaign.

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