Authorities in Belarus on Friday passed a law authorizing the seizure of foreign property in response to «hostile actions,» a move that has been given the green light’ in the face of «threats to the national interests» of the country amid the war in Ukraine and a crackdown on the opposition following allegations of fraud after the 2020 elections.
According to reports carried by the Belarusian news agency BelTA, the legislation seeks to «ensure Belarus’ national security, its economic stability and protect the legitimate rights and interests» of the European country’s businesses and citizens.
Thus, it stipulates as grounds for the confiscation of foreign objects and property «the commission of hostile actions against Belarus, its legal entities or individuals», before stressing that the decision remains in the hands of the Government, after which the property regulatory committee must submit the request to the Minsk Economic Court.
In this regard, it emphasizes that the seizure of these assets «must be based on the principles of objectivity, proportionality, transparency, appropriateness, strategic importance and efficiency», before noting that «the principle of objectivity is expressed in the seizure of assets only in response to the commission of hostile acts against Belarus, its legal entities and individuals».
The legislation specifies that among the assets that can be seized are cash funds, property and shares, while stressing that these confiscated objects «become the property of the Republic».
Source: (EUROPA PRESS)
