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Published: 1 june 2021 02:45

Calculated: Lithuanian losses due to sanctions on Belarus could reach tens of millions

Juliaus Kalinsko / 15min nuotr. / Railway
Lithuanian companies have begun calculating their potential losses if the European Union decided to prohibit the export of Belarusian potassium fertiliser via the Baltic States. Losses due to such a decision could reach into the millions of euro and a company that loads potassium fertiliser at Klaipėda Seaport warns that it will have to downsize. Economists say that the dependency of a part of the Lithuanian transport and logistics sector on Belarusian cargo is opposed to market principles, but a fertiliser export embargo will not have a major impact on the economy.

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