From 06.07.2022, the list of Belarusian legal entities defined by the Government (Resolution of the Council of Ministers of the Republic of Belarus No. 436 "On the List of Persons" dated July 1, 2022) will enter in force, in which shareholders from "unfriendly" countries are prohibited from alienating their shares in the share capital (hereinafter – the List).

The specified List includes 190 positions. The full text of the List can be found via link.

As a result, based on the order of the Ministry of Finance the shares prohibited for alienation according to the above-mentioned List are blocked on the accounts of the "depot" of their owners. Registration authorities will refuse to perform registration actions to amend the Unified State Register of Legal Entities related to the alienation of shares of companies named in the List.

Transactions related to the alienation of assets of companies nameed in the List by shareholders from "unfriendly" countries are null and void with the application of the consequences provided for in Article 170 of the Civil Code of the Republic of Belarus (collection to the income of the Republic of Belarus of all received by the party or due as compensation for the performed).