Belarus has frozen the shares of 190 unfriendly companies

Belarus has frozen the shares of 190 unfriendly companies

It is forbidden to dispose of the shares of such companies, they are locked in a separate account.

Belarus freezes the foreign shares of 190 companies, including EPAM Systems and Austrian-registered Lukoil Belarus, citing Western sanctions imposed for Western support for Russia’s invasion of Ukraine and human rights violations.According to the decree published on the official Belarusian legislative portal, shareholders from countries that “commit unfriendly acts against Belarusian legal entities and/or private individuals may not dispose of their shares”.According to the announcement, it is forbidden to sell the shares of such companies, they are locked in a separate account.EPAM requested a correction from Bloomberg that the news only refers to shares in the Belarusian company. Companies with foreign capital that are subject to the freeze include partially owned companies of several states – British, Estonian, Austrian, Czech and Dutch. The Estonian timber industry Mozy Timber Plant Ltd., the Estonian agricultural implement manufacturer Lidselmash Holding Management Company, and the Dutch Minsk Watch Factory Ltd. were also placed on the banned list.Hardware, software, tests, interesting and colorful news from the world of IT by clicking here!

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