A major loophole in EU sanctions against Russia is being exploited via Belarus, evidenced by a luxury car traffic jam at the Latvia-Belarus border, LSM reports. Although luxury car exports to Russia are banned, they are allowed to Belarus, resulting in a 50-fold increase in car exports to Belarus via Latvia. This suggests that many…
Lithuania has implemented stricter controls on grain imports from Russia and other high-risk countries and territories as of 18 March 2024, BNS reports. Under the new rules, all shipments by land to the Lithuanian market or for export will be inspected. The Agriculture Ministry expects the controls to be extended to include checks on the…
The total production of industrial enterprises in Estonia declined by 10.5% in 2023 at constant prices compared to 2022, according to Statistics Estonia’s data, ERR reports. Output decreased in all three industrial sectors, including in energy production by 21%, in manufacturing by 9.8%, and in mining and quarrying by 4.7%. Production volumes fell every month…
Estonia’s real GDP will continue to decline by 0.3% in 2024 but will increase by 2.8% in 2025, according to Swedbank’s latest macroeconomic forecast, ERR reports. The bank expects the current recession in Estonia to end in the middle of 2024. Moderate growth will return in 2025, driven by stronger domestic demand and exports. Annual…
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 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…
Latvia and Lithuania were among the largest exporters of beer to Russia in 2023, LRT reported, citing Russian news agency RIA Novosti. According to the report, the value of Lithuania’s beer exports to Russia amounted to USD 36.5mn in 2023, which was up by 1.9 times from 2022, accounting for just over 15% of Russia’s…
Latvia’s Ministry of Finance plans to submit draft laws on the state budget for 2024 and budget plans for 2024-2026 to the parliament, the Saeima, on 3 November 2023, LETA reports. The government will discuss the budget at its next meeting. The new coalition government’s declaration pledges to carry out a “balanced social, environmental, and…
The presidents of the Baltic States and Poland met on the sidelines of the UN General Assembly in New York to discuss the transport of Ukrainian grain through EU ports, ERR reports. Estonian President Alar Karis noted that shipping Ukrainian grain via Baltic ports required cooperation with Poland. Viktorija Cmilyte-Nielsen, speaker of the Lithuanian parliament,…