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943. Does the 50 Percent Rule apply to Directive 1 under E.O. 14038?


No.  The prohibitions in Directive 1 do not apply to any entity that is owned, directly or indirectly, 50 percent or more by the Ministry of Finance of the Republic of Belarus or the Development Bank of the Republic of Belarus, whether individually or in the aggregate.

Date Released
December 2, 2021