Economy & FinanceLithuania

Russian embargo: Lithuanian companies have managed a crisis ably


Thursday marked a year since Russia imposed an embargo on food products from the EU and US.

Lithuanian companies have managed this crisis ably, the business paper Verslo žinios is pleased to report:

It was a bit of a headache [for businesses] to have to look for ways to open up new markets and find new buyers for their products.

The government also helped in the search for new options. It brought in several state authorities as well as diplomats to help with the task. …

Over the whole year not a single business that had traded with Russia closed down. Only the transport companies came off a little worse for wear.

The other sectors noticed the benefits of this reorientation. … The main thing is to look for new possibilities and to learn from mistakes.

Andrzej Vilenski
Andrzej Vilenski, the Baltic Review correspondent is a PhD student at the University of Vilnius, studying policy.

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