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Lithuania's Financial Crime Investigation Service (FCIS) mulls placing under temporary administration two more companies from the list of Lithuanian companies constrained by Western sanctions against Russia and its oligarchs, Mindaugas Petrauskas, deputy director of the service, has said adding that this option is also being discussed with the Finance Ministry.
Kėdainių Lifosa
Kėdainių Lifosa
© DELFI / Laimonas Jankauskas

“The Finance Ministry has thus far asked us to provide a broader evaluation. However, one [Lifosa] has already been placed under temporary administration and we also have similar intentions in relation to two more companies,” he told BNS on Friday.

Fourteen companies in Lithuania have already seen their funds and shares frozen under the existing EU sanctions for Russia and Belarus.

Petrauskas would not specify the companies that might be placed under temporary administration.

He explained that, based on the criteria set out by the government, an interim administrator might be appointed for the companies with at least 10 million euros frozen as a result of sanctions, with a workforce of at least 500, or with economic, social or environmental activities posing certain risks.

Lifosa, the Kedainiai-based phosphate fertilizer producer, has so far been the only Lithuanian company placed under temporary administration.

The list of companies’ funds and shares frozen in Lithuania also includes Inter RAO Lietuva, an electricity supplier and its subsidiary Vydmantai Wind Park, IDS Borjomi Europe, a mineral water supplier, BMZ-Baltija, a metal product supplier, Eurochem Logistics International, a logistics company, Faberlic Baltija, EM System, EM Idustry, Amkodor Baltic, PhosAgro Baltic, TT Baltics, Juru Laivybos Registras and SUEK Baltic, a subsidiary of Russia’s SUEK.

BNS
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