Sanctions will hardly affect Belarus’ trade with EU until end of year

On 24 June the EU Council approved sectoral economic sanctions. They will impact the leading export industries, i.e., potash, oil refining, and tobacco industries.

But the sanctions documentation contains certain provisions, meaning that the restrictions will hardly affect trade with the EU countries until the end of the year.

For example, the head of the Lithuanian Railways Mantas Bartuška said that financial losses due to the sanctions would not be as painful as was previously thought. This is largely due to the fact that the sanctions do not apply to previously signed agreements. Lithuanian Railways and Belaruskali signed an agreement expiring at the end of 2023.