Following Russia’s invasion of Ukraine, Lithuania was among the first countries to restrict visas for Russian citizens, including a full ban on tourist visas. However, it has not produced the intended effect – more nationals from the neighbouring country have visited Lithuania than before the war. “If Italy has issued a tourist visa, then, of…
Banks operating in Lithuania say they are waiting for clarifications from the government on whether to handle payments for Russia’s Kaliningrad transit. According to the Lithuanian Banking Association, they need assurances they will not breach international sanctions for servicing Russian payments. “For a financial institution to be able to consider a possibility to apply an…
Banks operating in Lithuania may be granted exemptions and allowed to handle payments for the Kaliningrad transit service, the Lithuanian Financial Crime Investigation Service (FNTT) has said. “The FNTT is guided by directly applicable EU regulations, European Commission’s guidelines, which state that sanctions do not apply to the transit of goods by rail between mainland…
A proposal to ban Lithuanians from doing any business with Russia may bring unintended secondary effects, warn industry representatives. Few firms trade with Russia, they say, but many need to transit the country to bring their goods to Asia. In the wake of Russia’s invasion of Ukraine, thousands of foreign companies have suspended operations in…
Poland’s State Treasury will buy out shares in the Polish Mining Group (PGG), Europe’s biggest coal mining conglomerate, from four shareholders in which the Treasury has stakes. The State Treasury will buy 20.43% of shares in PGG from PGNiG Termika, 15.32% of shares from PGE Gornictwo i Energetyka Konwencjonalna, 7.66% from Enea and 15.32% from…
Lithuania will shut part of the Vilnius-Kaunas motorway until August 6 morning, the Road Directorate has announced. People travelling from Vilnius to Kaunas between 23:00 and 06:00 will have to divert at Vievis to take the regional road No 4714. The road closure is due to the implementation of reconstruction works on the interchange, the…
With skyrocketing electricity and gas prices, businesses in Lithuania are looking for ways to save money. Business associations suggest that big firms could have their employees work on weekends, when electricity is cheaper. Meanwhile, trade unions say now is the time to talk about a four-day working week. The Lithuanian Business Confederation is calling on…