pc
nid 91515
Mar 26, 2026
pdonofrio@vixio.com
US Track 2
Ministry of Finance
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1406 charsUnited States Office of Foreign Assets Control Removes Belarus Designations and Issues General License
On March 26, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) issued Belarus General License 14, authorising transactions involving Belarusian Bank of Development and Reconstruction Belinvestbank Joint Stock Company and certain additional entities.
In consultation with the U.S. Department of State, OFAC determined that circumstances no longer warrant the prohibitions imposed on the Ministry of Finance of the Republic of Belarus and the Development Bank of the Republic of Belarus under Directive 1 pursuant to sections 1(a)(ii), 1(b), and 8 of Executive Order 14038. Accordingly, OFAC rescinded Directive 1 under Executive Order 14038. Following these determinations, OFAC archived Belarus General License 13 as it is no longer applicable.
OFAC removed multiple entities from its Specially Designated Nationals and Blocked Persons List, including Belaruskali (also known as Belarusian Potash Company) and its various corporate iterations, and Agrorozkvit LLC, a Ukrainian-registered entity. The removals reflect the updated sanctions posture toward Belarus-related entities and individuals previously subject to asset-blocking restrictions.
REFERENCES:
Office of Foreign Assets Control. (2026, March 26). Belarus Designations Removals; Issuance of Belarus General License; Rescission of Belarus Directive 1. Retrieved from https://ofac.treasury.gov/recent-actions
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859 charsUS Office of Foreign Assets Control Issues Belarus General License 14, Rescinds Belarus Directive 1
On March 26, 2026, the US Office of Foreign Assets Control (OFAC) issued Belarus General License 14 , which authorizes transactions involving the Belarusian Bank of Development and Reconstruction, Belinvestbank Joint Stock Company and certain additional entities.
OFAC determined that circumstances no longer warrant the prohibitions imposed on the Belarusian Ministry of Finance and its banking infrastrucutre under Belarus Directive 1 . Accordingly, OFAC has rescinded this directive.
Following these determinations, OFAC has also archived Belarus General License 13 , as it is no longer applicable. OFAC has additionally removed multiple entities from its Specially Designated Nationals (SDN), with the removals reflecting OFAC's updated sanctions posture toward Belarus-related individuals and entities previously subject to asset-blocking restrictions.