Human Rights Organizations Continue Protests Against International Banks Providing Services to Belarusian Potash Company

Jul 30, 2013, 08:14 ET from Belarusians in Exile

LONDON, July 30, 2013 /PRNewswire-USNewswire/ -- Belarusian human rights organizations have staged protests in New York and London against major financial institutions providing banking services to Belarusian Potash Company (BPC), major currency earner for the State of Belarus. In London, human rights organization 'Belarusians in Exile' staged a protest near Standard Chartered bank, known to provide banking services to BPC.

The protesters urged the bank to stop providing services to BPC and other state-owned Belarusian companies. The letter to the bank's management said:  "Standard Chartered might not be aware that Belarusian Potash Company is controlled by President Alexander Lukashenko, who appoints its general director, and that it is one of the main sources of revenue for the State of Belarus. Also, Belarusian Potash Company controlled by Belneftekhim. The U.S. government designated Belneftekhim, aka the Belarusian State Concert for Oil and Chemistry, as an SDN of Belarus. We ask you to review this information and consider freeze banking services to this company."

In their letter to Standard Chartered, "Belarusians in Exile" said: "Funds earned by Belarusian Potash Company finance the regime that systematically uses repression and kidnapping. Enabling such a regime is not socially responsible and we do not believe it fits with the corporate culture of Standard Chartered nor do we feel it is an activity that would be supported by its shareholders.  We hope that Standard Chartered will support our efforts to stop the flow of money to the Lukashenko regime by breaking off its banking relations with Belarusian Potash Company."

Similar letters were sent to other major financial institutions known to provide services to major Belarusian companies controlled by the State.

Ilya Lushnikov
+1 (646) 583-2525

SOURCE Belarusians in Exile