The European Commission has approved a multi-million euro financing package in the trade dispute between Lithuania and China. Lithuanian companies affected by Chinese trade restrictions will be provided with aid worth around €130 million, the EU Commission announced on Tuesday. The proposal for state assistance was submitted to Brussels from Lithuania. The aid is to apply to all sectors except finance, agriculture, forestry and fisheries, and will enable affected companies to “adapt their business activities to the new market situation, re-orient their business strategies and improve their liquidity,” the Brussels-based authority said. China has placed a trade embargo on goods from Lithuania for almost five months now. The EU currently takes action against the embargo at the World Trade Organization (China.Table reported). The fact that Brussels has approved financial aid for Lithuania does not suggest that the embargo will be lifted any time soon. ari
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