The Trump administration announced on Thursday that it has relaxed restrictions on several Belarus-linked financial and potash companies. This development is indicative of a potential thaw in relations between Belarusian dictator Alexander Lukashenko and Washington.
The conflict with Iran has severely impacted exports of nitrogen fertilisers from the Persian Gulf, reducing farmers’ access to essential fertiliser components. Consequently, the rising cost of fertilisers has made it difficult for some US farmers to secure these essential materials. In light of this situation, President Donald Trump expressed his intention during a Cabinet meeting on Thursday to implement a range of policies to support American farmers amid ongoing military engagement in the Middle East.
Earlier this month, Lukashenko met with John Coale, the special envoy for Belarus appointed by President Trump, in Minsk, the capital of Belarus. Lukashenko ordered the release of 250 political prisoners in a meeting as part of an agreement with Washington to ease US sanctions. Coale announced that sanctions would be lifted against two Belarusian state banks, the Finance Ministry, and potash producers.
Before the White House event, the Treasury Department’s Office of Foreign Assets Control issued a general license permitting specific transactions with companies that would typically be prohibited from conducting business with American entities under existing Belarusian sanctions. Companies removed from the sanctions list include the Belarusian Bank of Development and Reconstruction and Belinvest-Engineering. Furthermore, sanctions on key fertiliser companies, including Belaruskali, the Belarusian Potash Company, and Agrorozkvit, have been lifted.
In a statement, the office indicated that, in collaboration with the State Department, it has determined that the current circumstances no longer warrant the prohibitions. It is important to note that this action does not release any frozen assets associated with these companies, and broader sanctions remain in place.
This article used information from The Associated Press.
