Bloomberg News

Deutsche Bank, BNP Paribas, RBS Asked to Reconsider Belarus Exit

March 13, 2012

Belarus wants to lure back Deutsche Bank AG (DBK), BNP Paribas SA (BNP) and Royal Bank of Scotland after the lenders halted work in the former Soviet republic as western governments tightened economic sanctions.

“We hope their decision will be revised,” Deputy Foreign Minister Aleksandr Guryanov told reporters today in the capital, Minsk. Belarus wasn’t hurt because it retained access to other financial institutions, he said.

Deutsche Bank, BNP Paribas and RBS suspended activities in Belarus last year. Together with OAO Sberbank (SBER), they managed the country’s Eurobond sales in 2010 and early last year. Sberbank, Russia’s biggest lender, continues to operate in Belarus.

The EU last month added 21 officials to a list of more than 200 people it holds responsible for political repression in Belarus, freezing their assets and banning them from entering the trading bloc. The eastern European nation responded by pulling back diplomats from Brussels and Warsaw in its worst diplomatic crisis since 2008, when the U.S. envoy was expelled.

To contact the reporter on this story: Aliaksandr Kudrytski in Minsk, Belarus at akudrytski@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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