It was reported yesterday that Lithuania removed Lifosa from the list of sanctioned companies. Lifosa, which is a phosphate fertilizer manufacturer based in Kedainiai, Lithuania, is part of Swiss-based EuroChem Group.
The company had its bank accounts frozen in 2022 after the EU imposed its sanctions on Andrey Melnichenko, a Russian oligarch, the founder and former beneficiary of the fertilizer producer EuroChem Group.
The decision to remove Lifosa from the list of sanctioned entities was made by the Financial Crime Investigation Service of Lithuania in June 2024. EuroChem Group, which is a 100% owner of Lifosa, is not sanctioned in the European Union, UK and/or USA.
How Gherson can help: Gherson lawyers have significant experience in challenging sanctions designation and have been working on multijurisdictional cases for over 35 years.
How Gherson can help
Gherson lawyers can help you to navigate the complexity of sanctions legislation and ensure your full compliance with it. We can assist in developing your company compliance policies, including sanction policies and deliver training to your employees, both in the UK or overseas.
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