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Belarusian companies allowed to receive payment for exports in cash
Payment for potash supplies will now look something like this / pexels.com
Belarusian companies are now allowed to receive payment for exports in cash. The decision has been taken by the Council of Ministers and the National Bank, the press service of the government reports.
Belarusian legal entities can receive cash foreign currency (U.S. dollars, euros and Chinese yuan) from non-residents of Belarus for exports of goods, works and services. They must transfer the proceeds to their bank accounts in Belarus.
This measure is explained by the adjustments to Western sanctions "and the complexity of the settlements in the non-cash form under export contracts".
This innovation will become valid after the official publication of the decree, until December 31, 2023.
As you know, a number of Belarusian banks fell under the EU sanctions and were disconnected from the SWIFT system.