BELARUS NEWS AND ANALYSIS

DATE:

03/04/2008

Lithuanian Banks Refuse To Service Belarusian State Company

Belarusian Ambassador to Lithuania Uladzimir Drazhyn said in Minsk on April 2 that Lithuanian banks are refusing to deal with Belarus's petrochemical conglomerate Belnaftakhim, Belapan reported. According to Drazhyn, "four of Lithuania's nine leading banks" declined to do business with Belnaftakhim, forcing the company to turn to a "very weak bank that does not have enough lending resources or financial settlements centers." Drazhyn appealed to Belarusian National Bank Chairman Pyotr Prakapovich for help. "Many countries or, actually, a majority of countries are U.S. satellites. The Baltic states sacredly obey all [U.S.] orders, even oral ones, even illegal ones. Therefore, we should have this in mind while resolving problems," Prakapovich reportedly responded to Drazhyn. In November, the U.S. Treasury Department slapped financial sanctions against Belnaftakhim, prohibiting Americans from doing business with the company and freezing any assets it has under U.S. jurisdiction. The move triggered a diplomatic spat between Minsk and Washington, in which Minsk recalled its ambassador from Washington, "recommended" that the U.S. ambassador leave Minsk, and demanded mutual cuts in diplomatic personnel. JM

Source:

http://www.rferl.org/newsline/2008/04/3-cee/cee-030408.asp

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