Lithuania will contribute funds from fines for non-compliance with sanctions to Ukraine’s recovery
Pravda Ukraine
Lithuania will donate the funds from fines for non-compliance with international and national sanctions to the Development Cooperation Fund for Ukraine’s recovery.
Source: LRT, a Lithuanian public broadcaster
Details: LRT noted that an amendment to the law On Development Cooperation and Humanitarian Aid, supported by 99 members of the Lithuanian parliament, provides for this.
Based on the amendment, the fund will receive funds from fines and confiscated assets in case of non-compliance with international or national sanctions.
The amendment also clarifies that these funds will be used exclusively to support measures related to the recovery and rebuilding of Ukraine after the Russian aggression.
This amendment will be effective for ten years, until January 2034.
“The goal is for Lithuania to make a joint contribution to Ukraine’s recovery and to demonstrate its strong commitment to supporting Ukraine in the face of Russian aggression,” said Lithuanian Deputy Foreign Minister Jovita Neliupšienė, presenting the project in parliament.
The official said Lithuania would act to facilitate Ukraine’s recovery on its own rather than waiting for a decision from the European Union or at international level.
Under the Code of Administrative Offences, violation of international sanctions or restrictive measures imposed by Lithuanian law is punishable by a fine of €200 to €6,000.
The Lithuanian Foreign Ministry initiated this amendment.
“Such a step would demonstrate Lithuania’s firm stance in supporting Ukraine, suffering from Russian aggression, and would contribute to the efforts of the international community to ensure the fundamental principle that the aggressor must pay for the damage it has caused,” the project’s cover letter reads.
The foreign ministry estimated the damage Russia has caused in Ukraine at €700 billion.
The European Union has imposed sanctions on 1,473 Russian and Belarusian citizens and 207 legal entities.
These sanctions have resulted in the freezing of assets worth €215 billion in EU member states, as well as the immobilisation of assets of Russia’s Central Bank worth around €300 billion in the EU and G7 countries.
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