Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

EU Sanctions Developer

MINSK — The European Union imposed sanctions against the Belarussian company Yunivest-M on Friday.

"We cannot comment on the imposition of the sanctions, we still do not understand ourselves," a spokesman told Interfax.

The EU imposed sanctions on Yunivest-M, its subsidiaries Yunis-Oil and YunivestStroiInvest and their ultimate beneficiary Anatoly Ternavsky. Yunivest-M is one of Belarus' largest developers, building housing in Minsk and owning a number of restaurants. The investment portfolio of Yunivest-M is more than $1 billion, according to the company's website, and the company has been among the 10 largest taxpayers in Belarus for the last five years.

(MT)