Last week, Latvia banned Russian and Belarusian nationals and firms from holding stakes or managing companies key to national security. Lithuania has already similar controls in place, according to an MP.
“We already have what Latvians have done, as companies that do not meet the Euro-Atlantic security criteria simply cannot participate in transactions, let alone acquire controlling stakes,” Laurynas Kasciunas, chairman of the parliamentary Committee on National Security and Defence, said.
The government uses a special commission, created in 2017, to vet foreign investors and transactions, Kasciunas said.
“Any attempt by third-country companies to approach our institutions, offer contracts, technology – in a wider sense than just acquiring shares – has to be approved by the commission. It also includes the State Security Department and other services that manage information,” he added.
The existing controls are among the tightest within the EU, according to Kasciunas, and they have so far helped to prevent Chinese or Russian investments into Lithuania’s strategic infrastructure.
The politician did not rule out the possibility, however, that the existing screening procedure could be improved. (LRT/Business World Magazine)
