Subscribe to FDD




Date: 2007

Deal: According to a report by the U.S. Government Accountability Office (GAO), state-owned Belneftekhim signed a two-year contract, valued at $450 million, for oil production in the Jofier field in 2007 (GAO Report, March 23, 2010). Belarus Radio reported that the contract was signed between NIOC and Belorusneft Company, part of Belneftekhim Concern, creating Belpars Petroleum Company Ltd (BPC) (Belarus Radio, October 28, 2008). According to the GAO, as of June 2009, talks were still under way to produce oil (GAO Report, March 23, 2010).

Date: September 2008

Deal: The Belarusian Telegraph Agency reported that Belorusneft signed an agreement with Iranian company Sepanta International to cooperate in drilling oil wells. Belorusneft also signed a Memorandum of Understanding with Petroiran Development Company (PEDCO) in the summer of 2008 involving economic, geological and judicial aspects of the Jofier oil field project (Belarusian Telegraph Agency, September 12, 2008).

Date: April 2009

Deal: According to the Belarusian Telegraph Agency, Belorusneft signed an agreement in April 2009 with Petropars Institute (PPI) for oil exploration in the Band-e-Karkheh field in southern Iran (Belarusian Telegraph Agency, October 16, 2009).

U.S. Ties: According to the U.S. Treasury, Belneftekhim was designated by the U.S. Treasury under Executive Order 13405 in November 2007 for being controlled by Belarusian president Alexander Lukashenko. Belneftekhim's U.S. subsidiary was also designated. Executive Order 13405 authorizes the Secretary of the Treasury to freeze the assets of individuals or entities involved in hindering democratic processes or committing human rights abuses in Belarus (U.S. Department of the Treasury, November 13, 2007).

In March 2011, the State Department sanctioned Belarusneft, a subsidiary of Belneftekhim, under the Iran Sanctions Act because it negotiated a contract with Naftiran for the Jofeir oil field’s development. Naftiran was sanctioned in September 2010 (U.S. Department of State, March 29, 2011).

Last Updated: July 7, 2014