Belarusian government has great problems

Sanctions of the US Treasury Department can be imposed to the enterprises that are parts of the concern Belneftekhim. An expert from one of the Belarusian consulting companies said it to the news agency PRIME-TASS. ”According to the US and EU laws, parent company is one who can control other companies. Belneftekhim is such a company,” the expert noted. He also reminded that according to its statute, approved by the government resolution № 788 on June, 26, 1997, the concern runs the owned by the state and passed to it stock of economic agents, appoints state representatives in their managerial bodies and controls their activity.

”So, from the point of view of foreign (including US) corporative laws, all Belarusian enterprises (including both unitary and joint stock companies), which are subordinated to Belneftekhim, are its subsidiary companies,” he said.

”In this connection, the imposed by the USA sanctions can affect these enterprises. The most painful consequence can be disrupt of supplies of the unique equipment, they buy in the USA and other countries, the payments for it are made through branch banks, controlled by the US banks,” the expert emphasised.

The agency interviewee also noted the programmes of development of the enterprises, planning the expansion of the delivery to the USA (for example, fibreglass produced by Joint Stock Company “Polotsk Steklovolokno”, are under threat now.

The Bush’s administration froze the assets of Belarusian state concern Belneftekhim 13 November. The US authorities said the reason was that the concern was controlled by Aliaksandr Lukashenka. The imposed by the US Treasury Department sanctions target all representative offices of Belneftekhim in Germany, Ukraine, Latvia, Russia and China, as well as a US subsidiary identified as Belneftekhim USA. As it is known, the USA requires stopping repressions in Belarus and releasing political prisoners.

“Until the political prisoners are released, the USA will impose sanctions,” said David Kramer, US Deputy Assistant Secretary of State for European and Eurasian affairs.