Russian and Belarusian companies could use foreign-based banks, among other ways, to pay Lietuvos Gelezinkeliai (Lithuanian Railways, LTG) for transit shipments via Lithuania to Kaliningrad, Transport Minister Marius Skuodis has said. “I can neither confirm nor deny that Siauliu Bankas is the only bank processing payments for transit shipments, but what is very important is…
Almost 40% of Poles regard the situation in Ukraine as a great threat to the Polish economy, the Central Statistical Office (GUS) has reported. In an August study, GUS found out that 39.8% of respondents to a poll said the threat to the economy was great, 37.3% thought it was average, while 18.5% indicated it…
Following the electricity shortage on the Baltic electricity exchange on August 16, the Lithuanian power grid operator Litgrid activated additional reserves, with the Panevezys and Elektrenai power plants starting to generate electricity on August 17. “Litgrid activated the Panevezys power plant from its cold state, as well as the additional reserve capacity in the combined…
The Head of Mission of the US Agency for International Development (USAID) Moldova, Scott Hocklander, and Minister of Finance Dumitru Budianschi signed Amendments to the 2016 Assistance Agreements, supplementing the USAID budget for development programs in the Republic of Moldova with an additional amount of $63 million. The funds are offered by USAID to support…
China has not yet officially notified the Lithuanian Transport Ministry that it is severing transport ties with the country, Transport Minister Marius Skuodis said on August 18. “There are no official announcements, so I am reacting to this as a kind of rhetoric, which, in our opinion, is unjustified,” he said. In response to Deputy…
Fitch Ratings has upgraded Ukraine’s Long-Term Foreign-Currency Issuer Default Rating to CC from RD (restricted default). As the agency explained, the upgrade followed the execution of consent solicitation on August 11 to restructure external debt. “Near $6 billion of principal and interest on Ukraine’s Eurobonds has been deferred by 24 months, alleviating external debt servicing…
A total of 710 businesses have been relocated in Ukraine since the relocation program was launched, and 500 of them have already resumed operation. The relevant statement was made by Ukrainian Economy Deputy Minister Oleksandr Hryban during a nationwide telethon. “Today, we have registered 1,796 requests from businesses. 710 enterprises have already been relocated, and…