OFAC eases Belarus sanctions with GL 14, Directive 1 rescission and SDN removals

WASHINGTON, March 26, 2026 - The U.S. Treasury’s Office of Foreign Assets Control announced a significant easing of Belarus-related sanctions, issuing Belarus General License 14, rescinding Directive 1 under Executive Order 14038 and updating the Specially Designated Nationals and Blocked Persons List. OFAC said, in consultation with the State Department, that circumstances no longer warranted the Directive 1 prohibitions on the Belarusian Ministry of Finance and the Development Bank of the Republic of Belarus. It also said Belarus General License 13 has been archived because it is no longer applicable.

General License 14 authorizes, with exceptions, transactions otherwise prohibited by the Belarus Sanctions Regulations involving Belarussian Bank of Development and Reconstruction Belinvestbank Joint Stock Company, Belinvest-Engineering, CJSC Belbizneslizing, and entities owned 50% or more by one or more of those parties. The license does not authorize the unblocking of property blocked under 31 CFR chapter V or any dealings with other blocked persons unless separately authorized. The license is dated March 26, 2026.

OFAC also removed multiple Belarus-linked entities from the SDN List, including Belaruskali, Agrorozkvit LLC and Belarusian Potash Company, according to the agency’s March 26 notice. The combined measures suggest a targeted rollback affecting parts of Belarus’ financial and potash-related sanctions architecture, while leaving in place restrictions not expressly lifted or separately authorized.