HM Treasury has published a notice confirming that the EU asset freeze against BelTechExport has been lifted.

The lifting of the asset freeze follows a judgment of the General Court of the European Union, handed down on 9 December 2014, annulling the EU sanctions listing of BelTechExport from its Belarus sanctions (see previous blog).  The judgment was not appealed and so the annulment order has now come into force.

BelTechExport was listed on the basis that “It supports and provides revenue to the Lukashenka regime by its sale of arms”, “benefits from the regime as the main exporter of arms and military equipment owned by the state or produced by state owned companies”, and has ties to a listed individual, Vladimir Peftiyev.  The sanctions on BelTechExport were first imposed by Council Regulation (EU) 588/2011 amending Council Regulation (EC) 765/2006 and Council Decision 2011/357/CFSP amending Council Decision 2010/639/CFSP.

A list of EU sanctions in force against Belarus can be found in the “sanctions in force” section of this blog.

This entry was posted in Belarus, Court Procedure, European Court Cases by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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