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12 Jan 2021

Professional Union of Belarusians in Britain (PUBB)

Letter: Belarusian Government Bonds - corporate and social responsibility of Barclays

...We are Belarusian professionals working in Britain. We write to draw your attention to the ongoing human rights violations in Belarus and to make several requests for actions by Barclays in relation to its engagement with Belarus.

We strongly urge Barclays:

  1. terminate secondary market trading of Belarusian sovereign bonds and inform all your counterparts and investors about your decision;
  2. terminate all lending, including export financing, to state-owned banks and state-owned companies in Belarus.

On 25 June 2020, the London Stock Exchange announced listing of dual tranche benchmark Eurobonds issued by the Belarusian government raising USD 1.25 billion. As a result, Lukashenko’s regime got access to funds and the additional financial strength to enable violent suppression of peaceful demonstrations, limit free speech and falsification of the election results on 9 August 2020...