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…
The representative of the spiritual leader of the Tibetan people, the Dalai Lama, in Northern Europe, Sonam Frasi, and the head of the Tibetan government in exile, Penpa Tsering, visited the Estonian parliament, the Riigikogu, ERR reports. The Tibetan representatives talked at a hearing on the legal status of Tibet. The event was organised by…
Lithuania’s Foreign Ministry has proposed extending current restrictions on Russian and Belarusian citizens for another year until May 2025, BNS reports. Under the proposal, the restrictions on Belarusians would be tightened but not completely to the level imposed on Russian nationals. Belarusian citizens arriving in Lithuania with Schengen visas would undergo extra risk assessments and…
