The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has removed Latvia’s ABLV Bank from its list of financial institutions posing a risk of money laundering, LSM reports. The European Central Bank revoked ABLV’s banking licence in 2018 after FinCEN added the bank to the list. ABLV’s liquidation is now nearly complete, and the bank…
Sweden-based Scandinavian Airlines (SAS) will end its cooperation with Estonia’s state-owned Nordic Aviation Group (Nordica), ERR reports. SAS has informed Nordica’s subsidiary, Regional Jet (Xfly), that it will terminate its wet lease agreement on flights between Tallinn and Stockholm. SAS may cut the number of flights on the route from six to two per day. SAS…
Latvia’s national air carrier, airBaltic, plans to expand its operations at Lithuania’s Vilnius International Airport (VIA), CEO Martin Gauss announced, LETA reports. He said that the company would more than double its fleet in Vilnius and increase the number of destinations offered from the airport. Currently, airBaltic has two aircraft stationed at VIA. Gauss said…
Latvia’s state-owned passenger train operator, Pasazieru Vilciens (Vivi), has now received all 32 new electric trains from the Czech manufacturer, Skoda Vagonka, LETA reports. Initially, all trains were due to be delivered by the end of 2023. Raitis Nespors, acting board chairman of Vivi, conceded that the coronavirus pandemic and the war in Ukraine contributed…
The Maltese-flagged ship, Ruby, carrying a cargo of ammonium nitrate from Russia, is no longer headed for Lithuania’s port of Klaipeda, BNS reports. Algis Latakas, CEO of Klaipeda State Seaport, announced that the ship had removed Klaipeda as its final destination at the port’s request. He said that the ship would name its new destination…
Estonia’s Climate Ministry has proposed amendments to exempt electricity storage facilities from double fees as of the beginning of 2026, BNS reports. Under the amendments, renewable energy and grid transmission fees for storage equipment would only be charged on net consumption for the calendar month. Owners of storage devices would thus only pay for the…
The Lithuanian government has signed a memorandum of understanding with US defence contractor Northrop Grumman on strengthening Lithuania’s defence industry, BNS reports. The memorandum focuses on the development, production, and supply of medium-calibre ammunition. Defence Minister Laurynas Kasciunas said that the aim was to start producing ammunition in Lithuania within 18 months. Northrop Grumman plans…
The Latvian parliament, the Saeima, has passed amendments mandating the country’s largest banks to provide in-person customer service and to maintain a network of ATMs outside big cities as of 2026, LSM reported. The new rules will apply to Swedbank, SEB, Citadele, and Luminor. Currently, the big banks have no permanent customer service points in…
Estonian postal services provider Omniva has opened a new logistics centre near Lithuania’s second-largest city, Kaunas, BNS reports. The company invested EUR 42mn in the new facility, which was the group’s largest investment to date. The logistics centre, located in the Kaunas Free Economic Zone (KLEZ), has an area of almost 22,000 m2. The facility…