Switzerland adds Belarus oil exporter, military-linked venture to sanctions list

BERN, May 21, 2026 — Switzerland added Volat-Sanjiang Joint Venture Limited Liability Company and CJSC Belarusian Oil Company to its Belarus sanctions list, with the measures taking effect at 11 p.m. local time Friday.

The State Secretariat for Economic Affairs, or SECO, said Volat-Sanjiang, a joint venture co-created by Minsk Wheel Tractor Plant, produces wheeled chassis for military equipment, including multiple-launch rocket systems. Switzerland said the company forms part of and supports Belarus’ military-industrial complex.

CJSC Belarusian Oil Company, also known as BelOil or BNK, is described by SECO as Belarus’ leading petroleum exporter. The company is owned by major Belarusian oil producers and refiners, including Belorusneft and Naftan, and is controlled through its ownership structure by the Belarusian government, according to the Swiss listing.

The additions subject the two companies to Swiss financial sanctions, including an asset freeze and restrictions on making funds or economic resources available to them. The listings originated from European Union measures adopted as part of the bloc’s 20th sanctions package.

Switzerland also amended numerous existing Belarus designations, updating identifying information, positions and reasons for listing. The changes cover senior officials, law enforcement and judicial figures, businessmen and state-linked enterprises. Among the amended entries are Prime Minister Aliaksandr Turchin, Foreign Minister Maxim Ryzhankou and companies including Beltechexport, MZKT, Grodno Azot, Belshina and Belaruskali.

The May 22 action formed part of a wider Swiss update covering Russia and Belarus. SECO said 115 additional individuals and entities across the two sanctions regimes were made subject to asset freezes and prohibitions on making funds available, with listed individuals also facing Swiss entry and transit bans.