European power grid network ENTSO-E would connect to the Baltic States’ grids within 24 hours if the three countries were disconnected by Russia, the Lithuanian power grid operator Litgrid said. “If Russia disconnects us, even today, we would be ready,” Litgrid CEO Rokas Masiulis told a news conference on July 13. When asked whether a…
The Civil Aviation Authority (AAC) of Moldova has issued an administrative act, thereby cutting the number of authorizations issued for the Fly One air company. Deputy Prime Minister, Infrastructure and Regional Development Minister Andrei Spinu made statements to this effect on July 13. “Thus, 23 out of 38 authorizations were suspended till the situation were…
The negative influence of euro’s weakness exceeds positive aspects. Additionally, the low euro exchange rate could contribute to inflation even though it is not the biggest factor contributing to price growth, according to bank analysts. SEB Bank macroeconomic expert Dainis Gaspuitis said companies focused on export outside Eurozone were the ones to benefit the most…
Over the past two months, the price of the raw material used to produce rapeseed oil has decreased by nearly EUR 200 per ton, or up to one third. Rapeseed oil prices on store shelves, however, won’t be following suit. According to Talis Raak, head of purchasing at Rimi, the retail price of cooking oil…
As part of the implementation of EU sanctions, 34 freight vehicles were refused entry from Russia to Lithuania on July 11. Long queues of trucks are also forming at Lithuania’s border with Russia, as the restrictions gradually cover more and more goods bound for Kaliningrad. Freight vehicles are also queuing at the border with Belarus,…
Ukraine invites Lithuanian businesses to participate in measures to restore and rebuild the Ukrainian economy after the victory in the war. A total of 614 promising projects have been prepared for investment. “After the victory of Ukraine, economic relations with Lithuania should reach a new level. It is about close economic cooperation and the participation…
The United States has transferred another $1.7 billion in grant assistance to Ukraine, Ukrainian Prime Minister Denys Shmyhal has written on Twitter. “$1.7 billion of grant aid came to the Ukrainian budget from the Trust Fund of the World Bank and the U.S. Agency for International Development. This is the second US grant in the…