Georgy Grits. An archive photo
MINSK, 23 March (BelTA) - Economic analyst Georgy Grits explained why the United States lifted sanctions on two Belarusian banks and the Finance Ministry in an interview to STV television channel, BelTA has learned.
The USA lifted sanctions on Belinvestbank, the Development Bank, and the Finance Ministry. Previously, sanctions were lifted from the Belarusian Potash Company and Belaruskali. “The logic here is that all these companies are directly related to one investment project - the Nezhinsky Mining and Processing Plant. After the Russian investor pulled out of the project, the plant was left relatively ownerless, and the state took over management and the shares. If we are talking about attracting a new investor, such as an American company, the Finance Ministry will be responsible for the securities. The Development Bank will also be involved; previously, a $1 billion loan from a Chinese investment bank went through it. Belinvestbank, meanwhile, functions as an ordinary commercial bank, handling payments. The question is why this project became part of the larger deal package between Aleksandr Lukashenko and Donald Trump,” Georgy Grits said.
According to him, to understand the situation, one must consider the interests of both Belarus and the USA. “Potash fertilizers are an important export commodity for Belarus, bringing in more than $2 billion a year. This specific product came under sanctions of both American and European. Lithuania also added its two cents, as it has no intention of allowing Belarusian goods through. From the U.S. perspective, the situation is even more complex. The Canada-USA conflict is directly related to this project. After all, around 90% of potash fertilizer imports for American farmers come precisely from Canada. If problems arise with Canada, the USA will need alternative sources of this strategically important raw material. Farmers, who represent a very strong electoral segment for Donald Trump’s campaign, need stable supplies. The Nezhinsky Mining and Processing Plant, which can produce 2 million tonnes of fertilizer, could significantly improve the situation, making the USA more independent in this regard,” the economic analyst stated.
He noted that this is important for Belarus. “Successful fertilizer exports generate budget revenues that can be directed toward social projects and defense. Thus, the project offers direct benefits for ordinary Belarusians,” Georgy Grits added.
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