The United States has lifted sanctions against several Belarusian financial institutions, including the Ministry of Finance and the Development Bank of Belarus, as well as the potash producer Belaruskali. This decision, announced on March 26, reflects a shift in U.S. policy following diplomatic discussions.
The Office of Foreign Assets Control (OFAC) issued General License No. 14, allowing transactions involving the Belarusian Development Bank and other related organizations. According to OFAC, after consultations with the U.S. State Department, the circumstances that warranted the sanctions against the Belarusian Ministry of Finance and the Development Bank are no longer justified.
Additionally, OFAC updated its Specially Designated Nationals and Blocked Persons List, which still includes Belaruskali and several smaller Belarusian banks.
This move comes on the heels of a significant political development in Belarus. On March 19, self-proclaimed President Alexander Lukashenko released a group of political prisoners following a meeting with a U.S. delegation in Minsk, suggesting a potential thaw in relations amid talks of easing sanctions.
This is not the first instance of Belarus employing a similar strategy. In December 2025, following negotiations, Lukashenko announced an amnesty for 123 political prisoners, including notable figures like Viktor Babariko and Maria Kolesnikova. Shortly thereafter, the U.S. Treasury Department announced the lifting of certain sanctions against Belarusian companies, including Belaruskali and the Belarusian Potash Company.
The U.S. has lifted sanctions on key Belarusian financial entities after diplomatic talks, coinciding with the release of political prisoners by President Lukashenko. This marks a potential shift in U.S.-Belarus relations, following previous patterns of negotiation and amnesty.