Lithuania govt readies support for companies hit by sanctions on Belarus

Reading Time: < 1 minute

The Lithuanian government stands ready to provide support to its enterprises as they get hit by European sanctions on Belarus, Lithuanian Prime Minister Ingrida Simonyte said on Monday.

Outraged at the forced landing of a Ryanair passenger plane in Minsk on May 23 to arrest a dissident journalist, EU states are set to soon impose economic sanctions on Belarus’ economy including exports of the fertilizer potash, a major source of its income.

Lithuania, which has repeatedly nudged the EU towards pressuring neighbouring Belarus’ government and is hosting exiled Belarus opposition leader Sviatlana Tsikhanouskaya, is also the main transit route for Belarus potash exports.

Lithuania’s government supports sanctioning potash, despite its state-owned enterprises standing to lose tens of millions of euros per year from servicing the trade.

“The government will definitely measure the impact, and as much governmental support for infrastructure or any other area would be needed, as much will be there”, Simonyte told reporters in Vilnius.

Belarus state-owned Belaruskali, one of world’s major suppliers of potash, can produce 13.2 million tonnes of the fertilizer annually, according to Fitch Ratings.

via Reuters

Once you're here...