The decision of the three Baltic States to build a “Baltic defence line” is preparation for a possible Russian attack, Lithuanian Foreign Minister Gabrielius Landsbergis stated, BNS reports. He said that the move served as a political message, seeking to draw the attention of allies to the threat posed by Russia. “If Russia is not…
US investment company Blackstone plans to sell Baltic-based Luminor Bank, according to Bloomberg, LETA reports. Blackstone expects to sell the bank for around EUR 1.9bn and to conclude the deal in 2024. Peter Priisalm, head of Avaron Investments, suggested that one potential buyer could be Polish insurance group PZU, while Valeria Kiisk, partner at Redgate…
Estonia’s debt to GDP ratio rose in the third quarter of 2023 but was still the lowest in the EU, according to Eurostat data, ERR reports. Estonia’s general government gross debt totalled EUR 6.789bn, which was up from EUR 5.585bn in the third quarter of 2022. The country’s debt to GDP ratio stood at 18.2%,…
The Estonian government has decided to terminate the country’s legal assistance agreement with Russia, ERR reports. The agreement mostly applies to cases under family and commercial law. The decision will lower judicial cooperation with Russia to the same level as with other third countries. Foreign Minister Margus Tsahkna noted that the legal assistance treaty was…
The Presidium of the Baltic Assembly has demanded “immediate efforts in Europe” to ensure total victory for Ukraine in the war against Russia, LSM reported. In their statement, the Baltic parliamentarians insisted that support for Ukraine must be “continuous, sufficient, timely, and far-sighted.” They warned other European parliaments not to underestimate the long-term impact on…
The defence ministers of the Baltic States have signed an agreement on building “anti-mobility defensive installations” on their borders with Russia and Belarus, Estonia’s Defence Ministry announced, ERR reports. The Baltic defence line will include bunkers, support points, and distribution lines. Estonia plans to begin building the bunkers in early 2025. The number of bunkers…
The Baltic States support banning the import of grain from Russia and Belarus into the EU, according to the Lithuanian Transport Minister, Marius Skuodis, BNS reports. He discussed the issue with Latvian Transport Minister Kaspars Briskens and Estonian Climate Minister Kristen Michal. The ministers agreed to coordinate actions and avoid national initiatives. Earlier, Skuodis noted…
Hong Kong-based investment firm PAG Private Equity will acquire full control of Latvia’s Food Union Group, which produces ice cream and other frozen foods, LSM reports. PAG expects to complete the transaction in the first quarter of 2024. Food Union will continue under present management and business structure. PAG has been an investor in Food…
Russian President Vladimir Putin has increased efforts to create the information conditions for a future escalation against the Baltic States, according to the US-based Institute for the Study of War (ISW), LRT reports. Putin asserted that Latvia’s moves to expel Russian citizens “directly affected Russia’s security.” Earlier, Latvia’s Office of Citizenship and Migration Affairs (PMLP)…