Although Lithuanian companies and financial institutions are legally bound by sanctions administered by the Republic of Lithuania, the European Union (EU), and the United Nations (UN), they may, as a result of their international activities, be exposed to sanctions imposed by the US, the United Kingdom, or other jurisdictions. Sanctions restrictions may include restrictions on trade, freezing of funds, prohibition of transactions. Violations of sanctions may be subject to particularly severe penalties, and the local or regional laws may not always protect the Lithuanian or EU persons from the extra-territorial application of third-country laws.

Moreover, violation of sanctions that are not legally binding may result in reputational damage to a company or a financial institution.

ECOVIS ProventusLaw team may:

  •  assess whether a transaction or commercial activity is in violation of international sanctions;
  • perform business-wide sanctions risk assessment;
  • assist in communicating with clients and partners in the context of sanctions compliance.

ECOVIS ProventusLaw team of sanctions experts consists of banking and financial legal experts highly rated in IFLR1000 2020, IFLR1000 2019 ratings, certified OFAC and international sanctions specialists, legal experts from the USA and UK. Consultations may be provided in Mandarin Chinese, Russian, English, and Lithuanian.

Inga Karulaitytė-Kvainauskienė

Lawyer, attorney at law, partner of the law firm

Contact person