2015.09.08 13:45

Lithuania is Working on a Plan to Cope with Russia’s Sanctions

Algirdas Acus 2015.09.08 13:45

Lithuanian ministries are starting work on an action plan to cope with Russia‘s sanctions against Lithuanian food products.

Lithuanian ministries are starting work on an action plan to cope with Russia‘s sanctions against Lithuanian food products.

Minister of Economy Evaldas Gustas, who is standing in for Prime Minister Algirdas Butkevicius while the latter is on vacation, said after a government meeting that it was decided to instruct ministries and other institutions to work out an action plan for the period of one year, while Russian sanctions are in effect.

The Economy Ministry is expected to submit such general action plan to the Cabinet next week.
According to Gustas, Lithuania could also seek trade agreements with third countries in a bid to find markets for its products.
Minister of Agriculture Virginija Baltraitiene says it is part of an effort to help the food industry. The authorities are planning to make intervention purchases.
Baltraitiene also mentioned that this fall could be most difficult period for Lithuanian businesses. If the authorities manage to help them though it, the situation will then stabilize.
Baltraitiene noticed that similar restrictions from Russia is not something totally new to us, and that Lithuanian businesses have already made their homework in finding new markets.

Minister of Economy Gustas arrives at the meeting
Soundbite (Lithuanian)

EVALDAS GUSTAS, Lithuanian Minister of Economy, temporarily acting Prime Minister who is on holiday:

All the related institutions have to prepare for Ministry of Economy new measures to be taken during the period of economic sanctions. Ministry of Economy has to summarize those measures and prepare a plan for the government’s consultation. Ministry of Finance along with Ministry of Agriculture and Ministry of Transport have to evaluate possible economic consequences and losses related to Russia’s sanctions and to prepare an Address to European Commission, with regard to compensation of possible losses.

A shot from government’s meeting

Soundbite (Lithuanian)

VIRGINIJA BALTRAITIENE, Lithuanian Minister of Agriculture:

The main sector affected in agriculture will be milk sector. It will face consequences, but the situation is not tragic, maybe only for several companies, because the majority of companies have already learnt their lesson and made their homework after the previous Russia’s sanctions. They found markets in other countries.

Archive, 2010, shots of Lithuanian cows
Archive, 2010, shots of Lithuanian milk production