Shortly before the imposition of Western sanctions, Serbian businessmen, the Karic brothers, sold their Belarusian business to the United Arab Emirates. As the Belarusian Investigative Center found out, the owners of the companies are managers of other Karich firms. Thanks to this "deal," businessmen could launder 700 million euros.
From 2008 to 2020, even before the sanctions and problems due to cooperation with the Lukashenka family, Belarusian business structures associated with Karichi brought more than 170 million euros in dividends to Cyprus.
The money was withdrawn to the accounts of several companies, all of which are the beneficiaries of the Karic construction projects in Minsk. Even then, businessmen built a whole business empire, including offshore companies.