In Lithuania, an auction for an offshore wind farm was declared unsuccessful because only one company submitted a bid. Developers likely expected larger subsidies. According to Timo Tatar, former deputy secretary for energy at the Ministry of Climate, the current market situation requires that countries make an effort to attract developers. The Lithuanian Ministry of…
Lithuanian law enforcers have commenced criminal proceedings over forgeries made in Latvia in a multimillion-dollar Lithuanian gas network connection with Europe. There were searches performed in Latvia last week. Almost a year ago Lithuanian media “15min” found in cooperation with Neka personiga that parts made in Russia were supplied for the construction of the 500…
US Secretary of State Antony Blinken praised the Baltic countries for their defence budgets and support for Ukraine, calling them “leaders in NATO”. He met the foreign ministers of Lithuania, Latvia and Estonia on March 25. “These three allies have been leaders in NATO, contributing significantly to their defence budgets, leading the way in NATO…
On March 25, the US Congress passed a bill that involved a total of $228 million in military and defence aid to Lithuania, Latvia and Estonia this year under the Baltic Security Initiative. “Support from the US has significantly helped Estonia, Latvia and Lithuania fast track several military infrastructure and capability development projects,” Estonian Defence…
Housing affordability in Baltic States improved slightly in Q4 2023, according to Swedbank representatives. In Riga housing affordability index (MP) reached 147.6. This value means the income of households whose income meets 1.5 average net monthly wage amount in Riga and that want to acquire a 55-square meter apartment was 47.6% higher than necessary to…
Following the reconstruction of the railway section Gaiziunai-Kaisiadorys, the Vilnius-Riga train will be able to run faster on this section and will make additional stops in Lithuania’s Jonava and Kedainiai, Lietuvos Gelezinkeliai (Lithuanian Railways, LTG) has said in a press release. According to LTG, the journey time will not change after adding more stops. The…
Inflation in Estonia seems to be running higher than is the case in Latvia and Lithuania, SEB Pank analyst Mihkel Nestor says. Inflation in Estonia ran at 4.2% YoY in February, a significant rise, though between January and February, perhaps a more useful comparison than the year-on-year, derivative-of-a-derivative figure, there was little change. Nestor pointed…