Canada places sanctions on Belarus targeting insurance, financial sectors

Sanctions will seek to apply further pressure to Lukashenko regime

Canada places sanctions on Belarus targeting insurance, financial sectors

Insurance News

By Lyle Adriano

Canada has imposed new sanctions on the country of Belarus, in protest against the latter’s “gross violations of human rights” under President Alexander Lukashenko.

According to Foreign Minister Marc Garneau, Canada’s sanctions would be placed on Belarus’s transferable securities and money market instruments, debt financing, insurance and reinsurance, petroleum products and potassium chloride products.

The sanctions come on the anniversary of Belarus’ 2020 presidential election, which critics of the current government say was rigged in favour of President Alexander Lukashenko, who sought a sixth term.

"Since then, the grave injustices carried out by the Belarusian government against its own people have not stopped... these measures will apply further pressure on Belarus's leadership," said Garneau.

Reuters reported that Canada has sanctioned 72 Belarusian officials and five entities. The US and Britain have also imposed similar sanctions on Belarus.

Human rights advocates have decried the Lukashenko government’s violent response against Belarus’ ongoing political demonstrations. According to human rights groups, peaceful protesters were subjected to extreme police brutality, arbitrarily detained, and tortured. Journalists were also attacked, detained, and/or tortured under the pretence that the media was causing the riots.

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