Lithuanian authorities are investigating whether the Russia-owned discount supermarket chain Mere, forced to close following European Union sanctions, has re-emerged under a new brand. The country’s Minister of the Economy and Innovation has asked the Financial Crime Investigation Service (FNTT) to determine whether newly opened Ola stores are linked to sanctioned Russian business interests and…
Lithuania’s military intelligence has obtained information indicating that Russia is considering attacks on critical infrastructure in the Baltic States using Ukrainian-made drones. Lithuanian Defence Minister Robertas Kaunas confirmed the information. “We have intelligence indicating that Russia is considering unconventional kinetic attacks against critical infrastructure in the Baltic region. To carry out such operations, Russia would…
Estonia is still waiting for the new Latvian government’s official position on the Rail Baltica project and whether Riga has plans to change its railway construction plans. The Estonian government is once again increasing Rail Baltica’s share capital by EUR 4 million. This is part of the Rail Baltica budget that covers overhead costs and…
German postal and logistics giant DHL, which operates in Lithuania, has agreed to acquire Venipak, a parcel delivery group operating in the Baltic States and Poland. The value of the deal was not disclosed. The acquisition includes Venipak companies in Lithuania, Latvia and Estonia and will allow DHL to establish its own local logistics network…
Russian businessman Sergei Shnaider, the owner of the Mere discount retail chain operating in Lithuania and Latvia, has been added to the European Union’s 21st sanctions package, prompting the chain’s operators in Latvia to halt their activities, according to Latvia’s Financial Intelligence Unit. The Latvian authority said sanctions applied to Latprodukti, which operated the Mere…
The energy ministers of Lithuania, Latvia and Estonia agreed on July 22 to strengthen joint reserve capacities for their power systems and to explore sharing emergency grid equipment in the event of major disruptions. Meeting in Riga, Lithuanian Energy Minister Lukas Savickas and his Latvian and Estonian counterparts signed a declaration committing the three countries…
OTP Bank has signed an agreement to acquire Luminor, the third-largest banking group in the Baltic region, as it looks to expand its presence in the region. OTP Group is a leading banking group in Central and Eastern Europe, serving 17.5 million customers across 11 countries. It has continued to operate in Russia after the…