The Lithuanian parliament Seimas on Thursday approved tougher punishment for Lithuanian companies that violate international sanctions against Russia and Belarus.
Under the amendments to the Law on International Sanctions, the violation of sanctions will now be punishable by a fine of up to 50,000 euros or up to 5 percent of the company’s annual revenue, as well as the seizure of goods or money related to the violations.
The amendments stipulate that tougher punishment will be handed out for violations of both international sanctions and the restrictive measures imposed by national authorities.
In addition, the Seimas adopted a proposal that the Criminal Code should also provide for liability for violations of the restrictive measures. The parliament expects to decide on these measures, drafted in response to Russia’s military aggression against Ukraine, next week.
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