The EU should cover costs related to confronting Russia, Latvian Prime Minister Andris Kulbergs stated, Politico reports. He said that the EU should grant an additional EUR 7bn from its next multi-annual budget to compensate for Latvia’s higher defence spending and loss of trade with Russia. Latvia’s projected defence spending over the seven-year budget period…
European credit rating agency Scope Ratings has affirmed Lithuania’s long-term credit rating at A+ with a stable outlook, the Finance Ministry announced, BNS reports. The agency pointed to Lithuania’s resilient and increasingly diversified economy, sound public finances, and strong institutional framework. Also, rapid economic growth and greater macroeconomic resilience were raising income levels in Lithuania,…
Estonia has signed an agreement with the European Commission on up to EUR 2.34bn in long-term loans for defence investments through the EU’s Security Action for Europe (SAFE) programme, ERR reports. Under the agreement, the loan period will be 45 years. The Ministry of Defence will use the SAFE funding to acquire air defence capabilities,…
The Estonian state expects the state-owned airport operator, Tallinn Airport, to attract new airlines and to offer regular flights to at least 60 destinations by 2030, ERR reports. Tallinn Airport should serve 5 million passengers per year by 2030, according to the new guideline document signed by Infrastructure Minister Kuldar Leis. Tallinn Airport operates seven…
China appears open to talks on normalising diplomatic relations with Lithuania, the chairman of the foreign affairs committee of the Lithuanian parliament, Remigijus Motuzas of the ruling Lithuanian Social Democratic Party (LSDP), stated, BNS reports. Speaking after a briefing by Foreign Minister Kestutis Budrys, Motuzas said that China was “inclined to meet, communicate, and negotiate”…
Lithuanian President Gitanas Nauseda has officially nominated Mindaugas Sinkevicius, chairman of the Social Democratic Party of Lithuania (LSDP), for prime minister, BNS reports. The parliament, the Seimas, will vote on the nomination on 30 June 2026, after which Sinkevicius will have 15 days to present his new cabinet and government programme for parliamentary approval. Sinkevicius…
The Latvian parliament, the Saeima, has passed amendments blocking investors from Russia and Belarus from obtaining temporary residence permits in Latvia, LETA reports. The amendments close a legal loophole that allowed Russian and Belarusian investors to obtain residence permits through an investment programme for alternative investment fund managers. Meanwhile, a parliamentary commission recommended setting quotas…
Estonia’s state-owned transmission system operator, Elering, plans to build new undersea electricity interconnections with Finland and Latvia by 2040, ERR reports. Priit Heinla, head of offshore grid development at Elering, said that investment decisions on the two projects could be made in 2031-2033. Elering expects electricity prices to remain lower in the Nordic countries. Therefore,…
Three political groups in the Lithuanian parliament, the Seimas, have signed an agreement on a new coalition government, BNS reports. The new ruling coalition will include the Lithuanian Social Democratic Party (LSDP), the Union of Democrats for Lithuania, and the joint parliamentary group of the Lithuanian Union of Farmers and Greens and the Electoral Action…
