Lithuania harbours ambitions to have its space sector generating approximately 1% of the country’s gross domestic product (GDP) in five years’ time, Economy and Innovation Minister Ausrine Armonaite has said. According to her, Lithuania joined the European Space Agency within mere two months, which proved that the country was serious in its intentions. A total…
The largest vertical farm in Europe is currently being developed in Lithuania. The business has already attracted 6 million euros in investment, and more is expected over the summer. According to Valentinas Civinskas, CEO of Leafood, the developer of the vertical farm, this technology will allow Lithuanians to enjoy fresh quality produce all year round.…
The leaders of parliamentary parties in Lithuania on July 15 signed a new national defence agreement, pledging to keep military spending above 2.5% GDP and increase the number of conscripts. “We are signing this agreement at a truly special time when it’s very important to objectively assess the changed geostrategic environment and arising new threats,…
After the European Commission published new guidelines on the Kaliningrad transit, which allowed for the transportation of sanctioned goods by rail through Lithuania, the EC said that Vilnius did everything correctly, given the information it had. “Regarding the clarification, it is a technical change, there is no change in position – our recommendations are in…
With Lithuania recording one of the highest inflation rates in the euro zone, Finance Minister Gintare Skaiste says it is because the country’s economy has avoided a significant downturn during the pandemic. “During the pandemic, Lithuania’s economy, like of the other Baltic States, was relatively less affected than the other European Union countries,” Skaiste has…
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,…
The ICC International Court of Arbitration has refused to hear a lawsuit filed by Russia’s Fund for Protection of Investors’ Rights in Foreign States against Lithuania on more than 1 billion euros in damages over the nationalisation of the Snoras bank. The bank collapsed in 2011 and the Lithuanian government nationalised its shares from its…