Belneftekhim welcomes USA’s decision to lift sanctions against Belorusneft

The sanctions against Belorusneft did not impede the implementation of investment projects. However, their removal is a good thing from a moral point of view, the chairman of the Belneftekhim Concern, Igor Lyashenko, told a press conference, BelTA has learned.

"Petrochemistry is not the space industry. The equipment is made by many developed countries that do not necessarily support sanctions. No investment project was suspended. The lifting of the sanctions is a good thing from a moral point of view,” said the head of Belneftekhim.

The information about the lifting of the U.S. sanctions against Belorusneft which were imposed on 29 March 2011 was published in the Federal Register in March of this year.

The Belarusian industrial group Belorusneft was founded in 1966. The company specializes in the surveying, prospecting and development of oil fields, well drilling, oil and associated petroleum gas extraction in Belarus and a number of other countries, including Russia, Ukraine, Venezuela, and Ecuador.