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May 15, 2008 

OFAC Adds Three More Belarus Enterprises to SDN List

The Treasury's Office of Foreign Assets Control (OFAC) today added three Belarus enterprises affiliated with Belneftekhim, also known as the Belarusian State Concern for Oil and Chemistry, to the Specially Designated Nationals List.

The Belarusian enterprises designated today are Lakokraska OAO, Polotsk Steklovolokno OAO, and the Belarusian Oil Trade House. According to OFAC:

  • Lakokraska OAO is a subsidiary of Belneftekhim and manufactures varnishes and paints.
  • Polotsk Steklovolokno OAO, also a subsidiary of Belneftekhim, manufactures glass, silica fibers, and other related products.
  • The Belarusian Oil Trade House is an enterprise of Belneftekhim and acts as a clearinghouse for financial, contractual, and web-based transactions on behalf of Belneftekhim Concern and its subsidiaries. The Belarusian Oil Trade House also operates an online auction trading system called United Trading Site.
As a result of OFAC's designations, any assets of these entities that are within U.S. jurisdiction must be frozen and U.S. persons are prohibited from conducting financial or commercial transactions with these entities.

Belneftekhim was added to the SDN list on November 13, 2007.

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