The amendment will be in effect until January 2034. Proceeds from fines and confiscated property will be used to restore Ukraine.
In Lithuania, they voted for an amendment to the law that provides for the transfer of fines for non-compliance with sanctions to the Cooperation Development Fund and aims to restore Ukraine. LRT reported it.
The amendment will be in effect until January 2034. According to it, funds received from fines and confiscated property, in case of non-compliance with international or national sanctions, will be transferred to the specified fund. These funds will be used for support related only to the recovery of Ukraine as a result of the Russian invasion.
“Thus, the goal is for Lithuania to jointly contribute to the reconstruction of Ukraine and show a strong position to support Ukraine in the face of Russian aggression,” said Deputy Foreign Minister Jovita Neliupsiene.
According to him, Lithuania independently, without waiting for decisions from the EU or at the international level, will take measures that will contribute to the restoration of Ukraine.
According to the Code of Administrative Offenses, violation of international sanctions or restrictive measures established by Lithuanian laws is punishable by a fine of 200 to 6 thousand euros.
We remind you that the United States has taken a decisive step towards the confiscation of fixed assets of the Russian Federation in favor of Ukraine. The relevant committee of the US House of Representatives supported a bill allowing President Joe Biden to confiscate sanctioned assets of the Russian Federation.
It was also reported that the European Commission agreed on the 12th package of sanctions against Russia. The EU plans to expand the “black list” to include representatives of the military, defense and IT sectors of the Russian Federation, as well as “other important economic operators.”
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.