US lifts sanctions on Belarus-linked Miami firm Bel-Kap-Steel
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The US Treasury's OFAC removed sanctions on Bel-Kap-Steel, a Miami-based joint venture with Belarusian steel mill BMZ, on July 23. The delisting follows a wave of political prisoner releases in Belarus since late 2025, part of US-Belarus negotiations.
Sanctions Removal
OFAC announced the delisting of Bel-Kap-Steel on July 23, reversing sanctions imposed in August 2023. The firm is a joint venture with BMZ, one of Belarus's top five state enterprises, which the US said generated millions for the Lukashenko regime. The EU had also sanctioned the company in 2023.
Political Prisoner Releases
The sanctions relief follows a series of prisoner releases since December 2025. Trump envoy John Cole secured the release of 123 prisoners in December 2025 and 250 more in March 2026. A five-for-five prisoner swap with Poland occurred in late April, though further exchanges expected in May did not materialize.
Broader US Concessions
Washington has also eased sanctions on Belarus's financial sector, exempting Belinvestbank, the Development Bank, and the Finance Ministry. Remaining restrictions on potash firms Belaruskali, BPC, and Agrorozkvit were fully lifted. The moves are tied to ongoing US-Belarus talks.
What's Next
The US may consider further sanctions relief if Belarus continues prisoner releases. It remains unclear whether the EU will follow suit or maintain its own sanctions on Bel-Kap-Steel and other entities.
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US lifts sanctions on Belarus-linked Miami firm Bel-Kap-Steel
