Company With Belarusian Shareholders Fined in Lithuania for Circumventing Sanctions

Reform.news Editorial Team · 2 October 2026, 14:23

https://reform.news/en/company-with-belarusian-shareholders-fined-in-lithuania-for-circumventing-sanctions/

A company whose shareholders are Belarusian citizens has been fined €418,700 in Lithuania for violating international sanctions. The Regional Administrative Court upheld the penalty.

The company in question is Dage Capital, registered in Lithuania. Lithuania’s Financial Crime Investigation Service (FNTT) established that the company sold luxury cars to firms in the United Kingdom and Poland, after which the vehicles were resold through third parties, exported to Russia and registered there.

According to FNTT, the buyers formally undertook to use the vehicles for personal purposes and not to export them to Russia. The service concluded that Dage Capital had the ability to prevent sanctions violations but failed to manage the relevant risks.

It was also established that the company held four accounts at Belarusian Alfa-Bank, which is controlled by individuals subject to sanctions. The company used these accounts.

The €418,677 fine was imposed on Dage Capital on October 31, 2025. The company appealed the decision, but the court found it lawful and justified.

The ruling may be appealed to the Supreme Administrative Court of Lithuania.

According to Nasha Niva, Dage Capital’s shareholders since October 2025 have been 59-year-old Vitali Davydau and 54-year-old Maryna Varantsova-Halbas. Davydau has been the company’s director since July 2020.