FROM A
DIFFERENT ANGLE by Kenneth Rijock
Financial Crime Consultant, for World-Check
OFAC designates three entities in Belarus
15 May 2008

Three related corporate entities reportedly owned by previously designated Belarus government petrochemical giant, Belneftekhim Concern, have been named by OFAC. The grounds are the same as those stated for the parent: that they undermine the democratic processes in that country, or are engaged in human rights abuses related to political oppression there. The enabling legislation was Executive Order 13405. Belneftekhim Concern was first designated on 13 November, 2007.

The entities listed today:

  • Lakokraska OAO,a varnish and paint manufcturer.
  • Polotsk Steklovokno OAO, a manufactuer of glass, silica fibers and related products.
  • Belarus Oil Trade House, a clearinghouse for financial, contractual and web-based transactions of Belneftkhim and its subsidiaries.

The facts and opinions stated in this article are those of the author and not those of World-Check. World-Check does not warrant the accuracy of any facts and opinions stated in this article, does not endorse them, and accepts no responsibility for them.

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