Poland’s state-owned energy group, Orlen, may shut down its oil refinery in Lithuania, BNS reports. Speaking in an interview with PAP, Orlen CEO Ireneusz Fafara said that the group may end up abandoning a major project to modernise the refinery in Mazeikiai. The project would require additional investments of USD 600-700mn (EUR 536-625mn). Fafara said…
The Baltic joint venture, RB Rail, has submitted a new application to the European Commission for an additional EUR 357.5mn in funding from the EU’s Connecting Europe Facility (CEF) for the Rail Baltica railway project, BNS reports. The European Commission and the European Climate, Infrastructure and Environment Executive Agency are expected to announce their decisions on…
Lithuania should resume discussion on the possibility of building a metro system in Vilnius, Vaidas Augustinavicius, chief economic and social policy adviser to President Gitanas Nauseda, said, BNS reports. Speaking in an interview with Ziniu Radijas, Augustinavicius argued that the project should be reassessed given the new geopolitical context. He suggested that the underground metro…
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…
