The volume of railway freight going into the direction of Baltic States will continue decreasing. Even at an optimistic scenario – if the war in Ukraine ends and relations with Russia gradually improve, there is no way to come back to the freight volumes of the past, said Estonian businessman and millionaire Oleg Osinovsky. His…
Two Baltic manufacturers, Latvia’s Finieris and Lithuania’s DUV, have joined forces to produce wooden beds for Ukrainians. They are used to equip the country’s bomb shelters in metro stations and schools. The modular beds, which can accommodate up to four or five people at a time, have already been delivered to 18 stations of the…
One advantage of the GE Hitachi modular reactor selected by Fermi Energia, is its passive safety system, which, in the event of a malfunction, would ensure the nuclear plant remains safe, says energy professor Alar Konist. However, introducing nuclear power to Estonia would still require a long period of preparatory work, he said. “Fermi Energia…
Estonia, Latvia, Lithuania and Poland signed a joint agreement to depend on security cooperation and establish a new platform that spans the four countries. Minister of Foreign Affairs Urmas Reinsalu (Isamaa) and his counterparts co-signed the document in Riga, Lavia on January 31. “It lays the foundation for a cooperation platform of the four countries,…
After Germany, the US and other Western allies finally approved tank shipments to Ukraine, the country battling Russian invasion has now set its eyes on modern fighter jets, a wish supported by the Baltic States. According to Politico, which interviewed several Western military officials and diplomats, conversation about supplying Ukraine with fighter jets is already…
SEB Bank has published the latest Nordic Outlook. It indicates that commercial banks have downgraded Latvia’s gross domestic product (GDP) growth rate forecast for 2023 from the initial 1.1% to 0.4%. SEB Bank has also downgraded its own forecast for Latvia’s GDP growth for 2024 from November 2022 initially estimated 3.5% to 2.7%, which means…
While Estonia has barred all freight rail transit of Russian origin, Latvia and Lithuania are following a more collective approach, while noting that these trade flows are in any case fizzling out. The Estonian state-owned rail cargo operator Operail halted the transit of Russian and Belarusian goods last year, following Russia’s invasion of Ukraine. However,…