Belarus Internet Blackout Renders FX Broker Websites Inaccessible To Clients

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Belarus has recently found itself in deep throes of political unrest. After a controversial election, violent protests erupted across the country. In a bid to quell the unrest, the country’s government seemed to have cut cell and internet services in the country.

Internet Blackout Affecting Businesses

Besides all the typically-assumed effects this would cause, an effect that can be keenly felt is that trading platforms and websites of many foreign exchange (Forex) brokers are now inaccessible. This even applies to the Belarusian Currency and Stock Exchange, which had been disabled. It should be noted, however, that the National Bank of Belarus is still in full operation.

The official election results, which were revealed earlier today, made a clear indication that Aleksandr Lukashenko managed to win his sixth term as President of Belarus. The man allegedly raked in 80% of the total votes within the nation. This massive majority win has caused protests across the country against the President’s administration. Accusations abound of poll rigging across the entire country.

Rigged Election Accusations Causing Massive Unrest

These accusations of rigged elections come just as criticisms regarding the government’s foreign policy and handling of the COVID-19 pandemic rose to new heights. In fact, as the days went on leading to the election, these criticisms have only been increasing.

As the levels of unrest rise within the country, the government has opted for a heavy-handed approach, mobilizing military and police forces to try and quell it. A large number of shops have now had their operating hours reduced, as well, particularly within the Belarusian capital, Minsk.

MTBankFX stands as the largest representative of Belarus’s over-the-counter (OTC) sector, and announced that the widespread internet issues were starting to give it connection problems with its trading terminals.

Belarusian Companies Left Without Web Presence

As it stands now, almost all of the websites of companies and forex brokers that are based in Belarus are completely inaccessible. A spokesperson from a Belarusian FX broker explained that its activities are only being partially carried out due to the internet blackout causing issues. This spokesperson stated that clients have yet to complain, but that those that have called understand that this is outside of the broker’s control. Some customers have opted to use a VPN service to access the broker.

What will happen now remains to be seen, but Belarus stands in a very unstable time to exist within. Whether or not the government regains control or gives in to public demand is up in the air, as well as how long this internet and cellphone blackout will last.

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