New Law Targeting Foreign Investment In Belarus Enters Into Force

On 6 January 2023 the laws "On seizure of property" and "On questions of placement under temporary external management" were published in Belarus, which introduce further restrictions to businesses with foreign investments.

Seizure of property

The law allows Belarusian authorities to seize property (including money and securities) owned in Belarus by foreign "unfriendly" states (the list was approved last year), persons from such states and their affiliates.

Key features:

1. property may be seized only as a reaction measure to "unfriendly" actions of foreign "unfriendly" states, persons from such states and their affiliates (by definition the scope of affected persons is very broad);