25 Oct 2017 19:08

United States extends sanctions relief against nine Belneftekhim enterprises by another 6 months

MINSK. Oct 25 (Interfax) - The United States has extended sanctions relief in relation to nine Belarusian enterprises by another six months, the U.S. Treasury Department said in a statement on its website.

The U.S. Treasury Department, in view of consultations and in coordination with the U.S. State Department, is extending the license to carry out deals with Belarusian enterprises which fall under sanctions according to the U.S. Presidential order N13405. The license does not unfreeze assets of these enterprises, the U.S. Treasury Department said in the statement. .

The license will be effective until April 30, 2018.

The U.S. Department of Treasury suspended sanctions against nine Belarusian petrochemical enterprises on October 2015 and has been extending the sanctions relief every six months since then.

In April 2017 the United States extended sanctions relief against certain Belarusian enterprises until October 30, among them Belneftekhim and its U.S. branch, Belneftekhim USA, Belshina, Grodno Azot, Grodno Khimvolokno, Lakokraska, JSC Naftan, and Polotsk Steklovolokno.

American companies are allowed to carry out transactions with the enterprises. However, if the transactions exceed $50,000, then a report on the deals needs to be submitted to the U.S. State Department within 15 days.

The sanctions against the Belneftekhim and its affiliates were introduced by the United States in 2007-2008.