After Russia lifted sanctions on her friend, Belarus accused her of allowing Moscow to use its territory to invade Ukraine. As Russian forces took over their first major city, Kherson, shortly before the second round of talks Thursday morning on a ceasefire between Russian and Ukrainian negotiators, the World Bank said late Wednesday. immediately suspended all its programs not only in Russia but also in Belarus. The most significant impact affects Belarus, where the World Bank is involved in 11 projects worth $ 1.15 billion, much more than in Russia, where it is implementing 4 projects worth $ 370 million.
In a statement, the World Bank recalled that it had not approved new loans or investments from Russia since 2014, when Moscow annexed Crimea. The international organization added that it has not approved new loans to Belarus since mid-2020, when the United States imposed sanctions following a disputed presidential election. On Tuesday, the World Bank said it was preparing $ 3 billion in emergency aid for Ukraine, of which at least $ 350 million could be released this week. For its part, the International Monetary Fund (IMF) is also considering additional aid to Kyiv in addition to the $ 2.2 billion to be disbursed by the end of June.
“Devastating sanctions” for Washington
The World Bank’s decision comes after the announcement of severe sanctions by Washington and Brussels against Belarus. The White House actually announced in a press release penalties “Devastating” economies against Belarus and the Russian defense industry. The United States will impose on Minsk the same “harsh export control measures” that have already been imposed on Russia, the US chief executive said. Apparently, Washington, according to the Ministry of Trade, will impose an “almost complete ban” on the sale of equipment to the Belarusian army. This should prevent Moscow from bypassing sanctions against Russia through the transit of weapons or defense equipment through Belarus, the White House explains.
The US executive branch, which can hardly afford to spend a day without announcing new ones penalties, also decided to focus on the Russian defense industry. In particular, Washington has identified “22 Russian entities” from the country’s military-industrial complex, which produces aircraft, infantry vehicles, missiles and drones. Their assets in the United States will be frozen and they will be barred from making any transactions with US companies or individuals.
Washington has also decided to halt exports to Russia of equipment and technology needed by the oil industry as a way to attack the main source of income for Vladimir Putin’s regime.
Brussels is hardening the tone
The White House stressed that all his penalties were taken, as from the beginning of the Russian invasion, in close coordination with America’s allies. Earlier on Wednesday, the European Union as well hardened tone against Belarus. While the sanctions have already been announcedalready reported on 183 officials, including President Alexander Lukashenko, and 26 companies or legal entities. The 27 decided to add 22 people (6 generals and 16 colonels from the Belarusian army) to this list of individuals and organizations subject to restrictive measures – asset freeze and travel ban – according to an article published in the EU’s Official Journal on Wednesday, specifying their names and functions.
The news penalties they also target key sectors of the Belarusian economy, in particular by drastically reducing the country’s main exports, potash used as fertilizer in Europe.
The EU will also suspend its imports of timber, cement, steel, iron and rubber products (tires, etc.) from Belarus, as well as exports to the former Soviet republic of related equipment for the tobacco industry and dual-use goods (military and civilian). .
Now on penalties will cover 70% of Belarusian exports to the EU, according to a European source.
We remind you that Belarus is already under penalties the EU on the crackdown on its opposition and the hijacking of a European plane in June 2021 to arrest a dissident and organize an influx of migrants from the Middle East to the EU’s borders from its territory. Following the hijacking of a Ryanair plane, the EU has already targeted economic sectors such as potash, restricted Belarus’ sales of sensitive telecommunications technologies and banned European airspace from Belarusian companies.