Transport and logistics services company „Eurochem Logistics International“, which is not engaged in commercial activities due to sanctions imposed on it, will be merged into the Kėdainiai fertiliser plant „Lifosa“ owned by the same shareholder, reports „Verslo žinios“.

The Klaipėda-based company will be transformed into a joint stock company before the reorganisation, and the permission to restructure the company has already been obtained from the Financial Crime Investigation Service (FNTT).

The financial report submitted to the Registry Centre for the first seven months of the year shows that the company did not generate any revenue in Lithuania in 2024. It earned €571,000 from the freight forwarding and ship agency activities of its Belgian subsidiary.

„Eurochem Logistics International“ provided freight forwarding services by land and sea – was involved in assessing the weight, condition and quality of cargo, as well as route planning, warehousing coordination and port operations.

The company reports inspecting around 3 million tonnes of cargo per year from European ports.

Sanctions imposed on the company have led to the suspension of cargo handling in the port of Klaipėda from March 2022.

100% of „Lifosa“ and „EuroChem Logistics International“ are owned by „EuroChem Group“, a Swiss-registered company, 90% of which is owned by the Cyprus-based company „AIM Capital“ &bdash; which, prior to the war in Ukraine, was owned by the oligarch Andriy Melnychenko and is now owned by his wife, Alexandra, who is its beneficiary. Both are on the EU sanctions list.

On 20 July 2022, the FNTT removed „Lifos“ from the list of sanctioned companies.