Belarus’ Foreign Ministry: EU economic sanctions against Belarus are futile

MINSK, 13 March (BelTA) – The instruments of economic sanctions of the European Union against Belarus are unproductive, Deputy Foreign Minister of Belarus Alexander Gurianov told reporters on 13 March, BelTA has learnt.

“We strongly believe that economic leverage should not be used for political ends. Economic sanctions of the European Union are a serious matter that bothers us. We also believe that in the international trade where Belarus and the European Union are active participants the instruments of economic sanctions are not acceptable and productive,” Alexander Gurianov said.

Belarus hopes that the European Union will take into consideration the interests of business. Last year, Belarus’ trade with the EU member states made $25 billion. The trade was dominated by Belarus’ export. Belarus posted a trade surplus of $7.5 billion. The share of the European Union in Belarus’ export rose from 30% to 39% compared with 2010. The import from the EU grew, too.

In 2009-2010 the investment cooperation with the European Union maintained momentum. Many European suppliers survived due to the contracts with Belarusian partners, the Deputy Foreign Minister said. “I wish political relations did not extend to the economic field,” Alexander Gurianov said.

Belarus hopes that the interests of business will play a key role here. Belarus will regret any economic restrictions initiated by the European Union. “It is even more regrettable taking into account that the EU itself is facing economic difficulties. We are afraid, this will have a negative impact on the interests of specific businessmen not only in Belarus, but also in the European Union,” the Deputy Foreign Minster said.