In June 2023, the Belarusian Government updated the list of legal entities, whose shareholders are unfriendly state residents and cannot alienate their stocks (shares in the authorized capital). We remind you that the list was prepared as a countermeasure to foreign sanctions imposed on Belarus within the last 3 years and the unfriendly states are specified in the Government Resolution of April 6, 2022 No. 209 (https://pravo.by/document/?guid=12551&p0=C22200209&p1=1&p5=0).
The new list in comparison to the previous one, decreased the number of entities slightly – some entities were excluded while new companies have been included.
The consequences of a legal entity's inclusion in the list remain the same: (1) prohibition of the alienation of their shares (stocks) in the authorized capital; (2) blocking the stocks of the included companies held in the depo accounts of their owners.
You can refer to the current version of the list here: https://pravo.by/document/?guid=12551&p0=C22300382
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
