Lithuania and Poland plan to hold joint military exercises in the so-called Suwalki Gap, Lithuanian President Gitanas Nauseda announced, BNS reports. Speaking after a meeting with Polish President Andrzej Duda in Vilnius, Nauseda suggested that the exercise could take place in April 2024. He said that the two countries would undertake joint measures to increase…
Latvia’s State Revenue Service (VID) has stopped over 5,000 shipments of goods for possible violation of EU sanctions against Russia and Belarus, LSM reports. VID has initiated more than 250 criminal cases over sanctions violations, including 114 in 2022 and 144 in 2023. Raimonds Zukuls, director of VID’s customs administration, said that most of the…
The EstLink 2 submarine power cable between Estonia and Finland went offline on the night of 25-26 January 2024, ERR reported. The cause and exact location of the outage are still unknown. Estonia’s transmission system operator, Elering, assured that there was no threat to the security of electricity supplies to Estonia. The EstLink 1 power…
The customs authorities of the three Baltic States have agreed on uniform application of EU sanctions against Russia and Belarus, BNS reports. The directors of the Estonian, Latvian, and Lithuanian customs departments agreed to introduce stricter controls on sanctioned goods exported to or transiting through Russia and Belarus to third countries. The measures include requiring…
Ukraine may move part of its drone production to Lithuania, Foreign Minister Gabrielius Landsbergis announced, BNS reports. Speaking during a visit to Kyiv, Landsbergis said that one option would be to set up joint drone production in Lithuania. Earlier, the Lithuanian Armed Forces (LGP) announced plans to acquire reconnaissance drones within three years, BNS reported….
Lithuania is holding “intensive and very detailed” talks with Germany’s Rheinmetall on opening a new factory in the country, Economy Minister Ausrine Armonaite announced, BNS reports. Rheinmetall’s top management met with Prime Minister Ingrida Simonyte in November 2023. According to 15min, the new factory could produce NATO-standard 155mm artillery shells. Rheinmetall and Krauss-Maffei Wegmann have…
Latvia’s largest commercial bank, Swedbank Latvija, posted a net profit of EUR 274mn in 2023, which was a more than double increase from EUR 132mn in 2022, LSM reports. Net interest income rose by EUR 193mn and net commission income by EUR 5mn over a year. Total expenditure amounted to EUR 138mn, which was up…
Latvian President Edgars Rinkevics backed a unilateral ban on Russian grain imports without waiting for a joint EU decision, LETA reported. Speaking after a meeting with Prime Minister Evika Silina, Rinkevics pointed out that some of the Russian grain was stolen from occupied Ukrainian territory and that Russia was using food as a “hybrid weapon.”…
Estonia’s second-largest commercial bank, SEB Pank, posted a net profit of EUR 231.7mn in 2023, which was a double increase from EUR 115.9mn in 2022, ERR reports. SEB’s operating income amounted to EUR 356mn (EUR 206.9mn) and operating expenses to EUR 78.4mn (EUR 69.1mn). CEO Allan Parik attributed the high profit to the rapid rise…