Belarus imposes ban on selling shares (stakes) in Belarusian company share capitals by foreign investors from unfriendly countries
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Belarus has imposed a ban on selling shares (stakes) in Belarusian company share capital by shareholders (stockholders) from unfriendly countries. The list of companies whose shareholders (stakeholders) are prohibited from disposing of their shares (stakes) in Belarusian companies (the “List”) includes 190 companies. Please find the List here (available in Russian). The Belarusian Ministry of Finance can amend the List by including and (or) excluding companies from it. Stakes of listed holders are subject to blocking on their “depo” accounts. If shareholders are excluded from the List, restrictions on disposal of securities can be lifted based on an order from the Belarusian Ministry of Finance. The new rules came into legal force from 6 July 2022. Source: National legal internet portal of the Republic of Belarus (NLIP) 05.07.2022, 5/50438. |