Lithuania may cancel investment agreement with Belarus
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Lithuanian President Gitanas Nauseda has addressed the Seimas with a proposal to denounce a number of agreements with Belarus and Russia. In particular, the Lithuanian-Belarusian agreement on the promotion and protection of investments. This document was signed in Minsk in 1999.
It is also proposed to denounce a similar agreement with Russia. Another agreement with Russia - on the avoidance of double taxation - may also be terminated.
Earlier investors from the so-called "unfriendly" countries were limited in their rights in Belarus. The Belarusian government forbade them to sell their shares. Initially, the list included 190 companies whose shareholders included "persons from foreign countries committing unfriendly actions against Belarusian legal entities and (or) individuals". At the time, Minsk justified its decision with the "protection of interests". In reality, it was an attempt to stop the outflow of foreign capital.
