Lithuania may face economic stagnation, which would be a major blow to the fast-growing economy, President Gitanas Nauseda has warned. “We could face economic stagnation, if not a recession,” he said, adding that this “would deal a significant blow to Lithuania, which is used to a fairly fast economic growth”. The economic situation is changing…
Lithuania will ask the European Union for an additional 24 million euros to secure the Russian transit train corridor, Interior Minister Agne Bilotaite said on March 30. “It will include specific technical measures, in particular, the purchase of a helicopter. These are measures that would boost Kaliningrad transit security, and we need around 24 million…
In the days following Russia’s invasion of Ukraine, all shops in Lithuania were seemingly out of salt. Why did people in the country panic-buy salt and why did it disappear from the shops in the first place? Most of Lithuania’s salt supplies were imported from Ukraine, according to representatives of Maxima and Lidl, two major…
Lithuania has frozen funds worth 13.9 million euros due to EU sanctions against Russia and Belarus, according to the latest figures from the Financial Crime Investigation Service (FNTT). These include over 10.8 million euros, almost $3.4 million and more than 645,000 Russian rubles. Almost 0.9 million euros and over $200,000 have been frozen over the…
Some 50.3% of Lithuanians have donated money or found other ways to help Ukraine, according to a recent poll commissioned by the Baltic News Service (BNS). Published on March 29, the survey found that 29% of respondents donated money through non-governmental organizations, 15.7% donated various goods, as well as provided accommodation and contributed in other…
Lithuania has applied to open a trade office in Taiwan, Taipei Times has reported. The Taiwanese Foreign Ministry announced Lithuania’s application on March 26 and said it would provide the country with the necessary assistance in opening the representative office. Economy and Innovation Minister Ausrine Armonaite said Lithuania was ready to open its office in…
Polish oil group Orlen, which owns Lithuania’s Mazeikiai-based oil refinery Orlen Lietuva, plans to use only oil supplied by Saudi Arabia, Energy Minister Dainius Kreivys has said. “Orlen is renouncing Russian oil and plans to produce products only from Saudi Aramco’s Saudi Arabian oil,” said Kreivys. Up until now, most of Orlen Lietuva’s refined oil…