Lithuania denounces three economic agreements with Russia and Belarus

Lithuania's Seimas denounced investment and taxation treaties with Russia and Belarus, citing security concerns.

Oct 1, 2024 - 19:00

Lithuania denounces three economic agreements with Russia and Belarus

lithuanian flag foreground gediminas castle tower vilnius unn

The Lithuanian parliament voted to terminate three international agreements with Russia and Belarus concerning economic cooperation, reports LRT.

Lithuania’s decision to terminate economic agreements with Russia and Belarus reflects the growing imperative to isolate these nations due to security concerns. By severing these ties, Lithuania aims to reduce economic support for regimes threatening regional stability and to align its policies with broader European efforts to pressure Russia over its aggressive actions.

Lithuanian lawmakers denounced on 1 October investment promotion and protection treaties with both Belarus and Russia, as well as a double taxation avoidance agreement with Russia. All three documents were originally signed in 1999.

Fellow conservative parliamentarian Arvydas Anušauskas added that all major investors have already withdrawn from Russia, arguing that Lithuania cannot encourage new investments in the current situation.

Giedrius Surplys, representing the opposition Lithuanian Farmers and Greens Union (LVŽS), described the agreements with Russia as “de facto ineffective.”

The Lithuanian Ministry of Foreign Affairs said that denouncing the investment promotion agreements will not have negative consequences. The denouncing of agreements termination will take effect in 12 months.

“We have a neighbor who, through cooperation with Russia, poses a threat not only to Lithuania’s national security but to all of Europe. Therefore, there can be no economic or any other cooperation that supports this regime,” said Vilnius Semeška, a member of the conservative Homeland Union – Lithuanian Christian Democrats (TS-LKD).

This move follows Lithuania’s June decision to denounce a legal assistance treaty with Russia. In April, Estonia took similar action, terminating its corresponding agreement with the Russian Federation.

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