Poland has imposed sanctions on the Belarusian company “ERPBel”, a resident of the High Technologies Park (HTP) and operator of the cryptocurrency exchange BYNEX. The company was added to the sanctions list of the Ministry of the Interior and Administration on October 31.
“Given the direct subordination of the High Technologies Park to the Belarusian authorities, it should be recognized that the entities operating there, including ‘ERPBel,’ are under the direct control of state bodies of the Republic of Belarus,” the Ministry said in its justification.
The ministry noted that in 2021, “ERPBel” entered into a partnership with “Belarusbank,” which had “strategic importance for the development of Belarus’s fintech sector.” Under this cooperation, it was possible to withdraw and deposit fiat currency to and from the exchange through VISA payment cards.
In 2022–2023, the position of director at “ERPBel” was held by Iryna Lysakouskaya, who had previously worked as the chief accountant at “Belarusbank.”
The ministry believes that, given the economic, organizational, and personnel links, “ERPBel” may be used to circumvent sanctions, finance, and support Belarusian state bodies, including in the context of aiding Russian aggression against Belarus.