Sanctions against Belarus potash export cause Lithuanian railways to suspend €60m project
<p> MINSK, Oct 11 - PrimePress. Lithuanian Railways (Lietuvos gelezinkeliai, LTG) is suspending a €60 million project to develop a section of the country’s main railway line in connection with sanctions imposed by the European Union (EU) and the US on Belaruskali (Soligorsk, Minsk Oblast) and the impending halt in export of Belarusian potash fertilizers through Lithuania from December 2021, DELFI.lt reports. </p> <p> </p> <p> Lithuanian Railways infrastructure development company LTG Infra justifies the decision to stop construction work on the Plunge-Sateikiai section of the second track by reviewing the investment return. “The geopolitical situation due to the EU and US sanctions for Belarus forces us to reconsider the investment return of some projects,” said Karolis Sankovskis, CEO of LTG Infra. </p> <p> </p> <p> On 12 Aug 2021, Lithuanian Minister of Transport and Communications Marius Skuodis informed that the export flow of Belarusian potash fertilizers produced by companies hit by US sanctions will be stopped in December 2021. In his words, in the coming months, Lithuanian companies will begin to gradually reduce the volume of such transit in preparation for its complete cessation. Earlier, Lithuania allowed for the termination of the export transit of Belarusian potash fertilizers through the port of Klaipeda in the context of the expansion of the European Union's sectoral sanctions against Belarus. </p> <p> </p> <p> The European Union imposed sectoral economic sanctions on Belarus on 25 June 2021. In particular, trade in petroleum products, potash fertilizers, raw materials and equipment for the production of tobacco and tobacco products is restricted. On 9 August 2021, the United States imposed sanctions on 23 individuals and 21 entities of Belarus, including Belaruskali. The UK and Canada also imposed sanctions on major sectors of the Belarusian economy, including the potash and oil refining industry, government securities and money market instruments, as well as dual-use goods and technologies and the aviation industry. End </p>
2021-10-12
Primepress
Sanctions against Belarus potash export cause Lithuanian railways to suspend €60m project
MINSK, Oct 11 - PrimePress. Lithuanian Railways (Lietuvos gelezinkeliai, LTG) is suspending a €60 million project to develop a section of the country’s main railway line in connection with sanctions imposed by the European Union (EU) and the US on Belaruskali (Soligorsk, Minsk Oblast) and the impending halt in export of Belarusian potash fertilizers through Lithuania from December 2021, DELFI.lt reports.
Lithuanian Railways infrastructure development company LTG Infra justifies the decision to stop construction work on the Plunge-Sateikiai section of the second track by reviewing the investment return. “The geopolitical situation due to the EU and US sanctions for Belarus forces us to reconsider the investment return of some projects,” said Karolis Sankovskis, CEO of LTG Infra.
On 12 Aug 2021, Lithuanian Minister of Transport and Communications Marius Skuodis informed that the export flow of Belarusian potash fertilizers produced by companies hit by US sanctions will be stopped in December 2021. In his words, in the coming months, Lithuanian companies will begin to gradually reduce the volume of such transit in preparation for its complete cessation. Earlier, Lithuania allowed for the termination of the export transit of Belarusian potash fertilizers through the port of Klaipeda in the context of the expansion of the European Union's sectoral sanctions against Belarus.
The European Union imposed sectoral economic sanctions on Belarus on 25 June 2021. In particular, trade in petroleum products, potash fertilizers, raw materials and equipment for the production of tobacco and tobacco products is restricted. On 9 August 2021, the United States imposed sanctions on 23 individuals and 21 entities of Belarus, including Belaruskali. The UK and Canada also imposed sanctions on major sectors of the Belarusian economy, including the potash and oil refining industry, government securities and money market instruments, as well as dual-use goods and technologies and the aviation industry. End