US Treasury Department imposed sanctions of Belarusian engineering companies – Belarus Automobile Plant (BelAZ) and Minsk Automobile Plant (MAZ).
A notice on the website of the Ministry of Finance said that these companies were included in the sanctions list.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) also listed nine individuals from Belarus, as well as designated one Boeing-737 aircraft of President Alexander Lukashenko as blocked property.
The report notes that earlier sanctions against BelAZ and MAZ were imposed by the European Union and Canada. Also, sanctions have been imposed to the CEO of BelAZ Sergey Nikiforovich and to the head of MAZ Valery Ivankovich.
The sanctions imposed mean that all property of the listed companies and individuals, located in the US is blocked. Also blocked are all legal entities that directly or indirectly belong to one or more of the blocked persons by 50% or more, individually or collectively.
It clarifies that US sanctions may be imposed on financial institutions and other persons who carry out transactions with companies on the sanctions list.
OAO BelAZ (the management company of BelAZ Holding) is one of the largest manufacturers of dump trucks and transport equipment for the mining and construction industries in the world. It occupies about 30% of the world market of heavy-duty dump trucks. Produces nthe largest mining dump truck in the world with a load capacity of 450 tons.
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MAZ (the management company of the holding – Belavtomaz) produces cargo and passenger cars, buses and minibuses, special purpose machines.
It is one of the largest manufacturers of motor vehicles in the CIS.