Payments for the transit of sanctioned goods between mainland Russia and its Kaliningrad exclave through Lithuania should continue, Transport Minister Marius Skuodis has said, but admitted that there might be “challenges”. The last Lithuanian bank processing transactions from Russia and Belarus said it would stop doing it as of September, causing concern that this would…
Ukrainian banks have issued 14 loans worth UAH 33.2 million as part of a special lending program for exporters, with 12 more loan agreements yet to be signed, Ukraine’s Export Credit Agency reports. “The ECA’s partner banks as part of a special lending program for exporters during the martial law supported the issuance of 8…
The Ministry of Culture and Information Policy of Ukraine and WPP, the world’s leading marketing communications group, have launched the “Advantage Ukraine” project to attract investments to the Ukrainian economy, with the first results expected already in September, Ukraine’s Minister of Culture and Information Policy Oleksandr Tkachenko has said in a Telegram post. On Independence…
Lithuanian Customs is stepping up checks to monitor the execution of EU sanctions on Russia and Belarus. Shipments whose senders, receivers, carriers or customs intermediaries have already tried to circumvent the sanctions will be deemed high-risk and subjected to extra checks, the Customs Department said on August 25. “We see that the number of attempts…
Commercial banks in Georgia loaned GEL 42.09 billion ($14.85 billion) and received deposits of GEL 38.75 billion ($13.67billion) in July, the latest data from the National Bank of Georgia showed. The volume of loans decreased by 3.58% in July compared to the previous month, while the number of deposits increased by 1.27%. Last month, the…
Achema’s decision to temporarily stop its nitrogen fertiliser production was a better option than operating at a loss and eventually going bankrupt, Vidmantas Janulevicius, president of the Lithuanian Confederation of Industrialists, believes. Soaring energy prices may force more companies to follow in its footsteps, he adds. “No business wants to increase its losses, because sooner…
Georgian officials met World Bank Group representatives on August 25 to discuss current and future projects, as the parties were marking 30 years of partnership this year, the Ministry of Finance said. The meeting involved Finance Minister Lasha Khutsishvili with Sebastian Molineus, the World Bank Regional Director in the South Caucasus, and Miguel Eduardo Sanchez…