Lithuanian President Dalia Grybauskaitė has vetoed recently passed amendments to the Law on Competition that provide for smaller anti-trust fines on large companies, saying it benefits specifically Russian oil company Lukoil.
© Bendrovės archyvas

Grybauskaitė added that the authors of the amendments were contributing to Russia's military aggression in Europe.

The president said on the national radio that Lukoil is funding the Kremlin's military aggression.

"To begin with, the amendments which I have vetoed were about cutting fines 10 times rather than just softening them. Given the ongoing litigation in respect of Lukoil, we will put it completely openly by claiming that such amendments were directly tailored for Lukoil.

"And we are aware of the fact that it is precisely the money of Lukoil which is funding the Kremlin's military aggression in Europe. Which practically means that those who had proposed these amendments are ready to bankroll the tanks which can come to our borders and perhaps already are at our borders," the president said in an interview to the LRT radio.

In response to the president's comment, Prime Minister Algirdas Butkevičius said that he did not want to single out any company, but also disapproved of the suggested amendments.

Grybauskaitė has vetoed the amendments to the Law on Competition which provide maximum penalty of up to LTL 150,000 (EUR 43,500) to companies for gravely impeding competition.

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