Sanctions

EU countries have adopted a new round of sanctions against Russia, but cannot agree when or whether to implement them, EUobserver reports.

The EU and the US are to announce tighter Russia sanctions on Friday, with the EU’s draft legal texts targeting state-owned banks, oil technologies and defence goods, EUobserver.com reports.

Lithuania's Parliamentary Speaker Loreta Graužinienė says that sanctions taken against Russia in the wake of its incursions into Ukraine have not yielded any results and it is therefore vital to search for other diplomatic ways of influencing the situation.

The Estonian Minister of Agriculture Ivari Padar met with Mr QU Zhe, the Chinese Ambassador to Estonia, to discuss the possible import of Estonian food products into China.

Russia is encouraging consumption of domestically produced goods and is seeking to diversify imports from countries not covered by its import embargo, Lithuania's ambassador to Moscow said on Wednesday, adding that food product prices in Russia have already increased 5-6 percent and are set to rise ...

Prime Minister Algirdas Butkevičius says that problems faced by entrepreneurs affected by Russia's sanctions should be regarded as problems of national significance.

Daniel Fried, coordinator for sanctions policy at the US State Department, says that it will take time before the sanctions imposed on Russia by the United States and the European Union begin showing tangible results, but they undoubtedly will.

MP Kazys Starkevičius of the Homeland Union-Lithuanian Christian Democrats (TS-LKD), shadow agriculture minister, says that the action plan for 2014-2015, prepared by the Ministry of Economy and approved by the Government, which seeks to reduce losses of Lithuanian companies due to Russian trade san...

Government officials and representatives of dairy processing industry have agreed that, in August, milk produced in Lithuania will be bought-in and the price will not be reduced by more than 12 percent, i.e., by approximately LTL 0.10 (EUR 0.03) per litre.

The Lithuania Tribune TV spoke to Member of the European Parliament Gabrielius Landsbergis. The Lithuanian MEP believes that current sanctions by the EU on Russia are not tough enough to stop bloodshed in Ukraine. If Russia continues to support separatists in Donbas, the EU will have no alternative ...

Getting a Big Mac in Moscow is about to get a lot harder.

When Russia imposed import bans in the past, traders successfully diversified their sales, shows the analysis carried out by the State Tax Inspectorate (VMI).

The European Commission will cover losses incurred by Lithuanian agricultural producers because they cannot sell perishable products due to Russia's ban on fruit and vegetable imports.

The economic war between Russia and the West is and will be painful for both sides, but Russia cannot possibly win it, said Latvia's Foreign Minister Edgars Rinkevics an interview to the Latvian Television show "Rita panorama", informs LETA.

There's a basis for the European Union's sanctions against Russia and the EU is united on the issue, Lithuanian Minister of Foreign Affairs Linas Linkevčius says.

In wake of Russia's embargo on dairy imports from Europe, Latvia's Food Union food group will reduced the price of its dairy products for the local market by up to 30%, with the aim of selling more of its products in Latvia and supporting Latvian farmers, writes LETA.

Lithuanian Prime Minister Algirdas Butkevičius said on Wednesday that VAT rates on agricultural products will not be reduced.

Residents of Lithuania's southwestern District of Jurbarkas near the Russian region of Kaliningrad will benefit from an increase in Russian shoppers, Lithuanian President Dalia Grybauskaitė has said in an interview with a local newspaper.

A failure to compensate the losses suffered by the dairy and meat sectors due to Russia’s restrictions on the imports of food and farm products may shave more than 0.2 percentage points off the Lithuanian GDP growth, Agriculture Minister has said.

After Russia has imposed an embargo on Lithuanian agricultural production, the government is considering not only subsidies for food products but also a reduced 5-percent value-added tax (VAT) rate for vegetable and meat producers.