BelTechExport Sold to Russia
A business deal or a smart move to avoid the EU sanctions?
One of the most influential Belarusian businessmen Uladzimir Piefcijeu sold the controlling interest of his company BelTechExport to Russian businessman Dmitry Gurinovich, reports
BelTechExport closed-stock company was founded on January 26, 1993 and became the first specialized company in the Republic of Belarus working in the international market of armament and defence systems. Before the acquisition by Mr. Gurinovich, BelTechExport was a part of Belarusian holding BelTech Holding.
BelTech Holding also reports that Uladzimir Piefciheu is not somehow engaged in the holding any more.
According to BelTechExport, Dz. Gurinovich is a graduate and a post graduate of Russian Academy of Economy and a State Service under the President of the Russian Federation, he is a part of personnel reserve of the Russian President.
“The creation of active Belarus–Russia cooperation within the sphere of military and technical cooperation and the military tools export within this cooperation will guarantee BelTechExport’s brand new positions on the world’s market,” reported the company representatives.
However, there Interfax news agency did not manage to find any references to Mr. Gurinovich, a new BelTechExport’s owner, neither via Google, nor via SPARK system — a great database of Belarus, Russia and Kazakhstan businesses and businesspersons.
Uladzimir Piefcijeu was put on the EU’s blacklist after the presidential elections of 2010. He is accused of funding Aliaksandr Lukashenka’s regime. He is banned to enter the EU.
A Belarusian economist Siarhiej Chaly comments the acquisition of BelTechExport on udf.by and says that Dmitry Gurinovich may simply be a ‘dummy owner.’ This move could have been done to escape the EU sanctions as they are aimed against persons and not companies, i.e. against Mr. Piefcijeu, but not against BelTechExport.