Vladimir Antonov threatens Lithuania with international arbitration

Andrei Liakhov, representing Antonov who is currently challenging his handover to Lithuania, says Snoras' nationalization was politically motivated, and that Lithuania violated a bilateral treaty on the stimulation and mutual protection of investments.

He expressed his position in a letter to Lithuania's Minister of Foreign Affairs Audronius Azubalis, Minister of Finance Ingrida Simonyte and chairman of the Bank of Lithuania Vitas Vasiliauskas. A copy of the letter, dated May 4, was also received by BNS.

"The Lithuanian authorities' decisions to place Snoras into administration, then to nationalize it and finally to liquidate it, and to make criminal allegations against the Investor were motivated by political reasons and reasons of discrimination on the grounds of the Investor's Russian nationality," Liakhov claims in his letter.

Antonov, who owned a 68.1 percent stake in Snoras, and his partner Raimundas Baranauskas were detained in London in late November based on arrest warrants issued by Lithuania. They were later released on bail. A London court is currently hearing Lithuania's request for their extradition.

"We have received it and are analyzing it. We don’t comment any further as any statements might be used in future legal disputes," Giedrius Simonavicius, head of the Public Relations Unit at the Bank of Lithuania, told BNS on Friday.

Rasa Jakilaitiene, an adviser to Minister of Finance Ingrida Simonyte, told BNS the minister had received the letter and was analyzing it, but she refused to provide any further details.