On April 4, president Maia Sandu held a news conference, during which she informed that Moldova would not allow the voiding of sanctions against Russia as to the aspect of the banking system and as regards the re-exports too. The head of state said sappers from Moldova mig1ht help their colleagues from Ukraine. At the…
Lithuania is the first EU country to have completely stopped importing Russian gas, the Energy Ministry has announced. The move to become fully independent from Russian gas was made in response to Russia’s energy blackmailing Europe and the war in Ukraine. “We are the first EU country among Gazprom’s supply countries to gain independence from…
At a meeting on April 4, the Cabinet approved changes to the subsidy principles, including a set of facilities for farmers. The new provisions aim to improve access to subsidies for young farmers, women farmers and returning migrants who want to grow their livestock business, process agricultural production, grow fruit and vegetables on protected land…
International IT and other companies that operated in Russia would not be able to relocate to Lithuania, Economy Minister Ausrine Armonaite said on April 4. “Although our country’s services ensure extremely thorough checks of every incoming company and person, the continuation of this process in today’s situation is impossible and does not meet the expectations…
The Ministry of Economy estimates that the direct non-recurring losses caused by the Russian invasion now reach $565 billion, and Ukraine is short of $54 billion in capital investment. “According to our latest estimates, direct non-recurring losses now amount to $565 billion: $119 billion accounts for infrastructure and $91 billion – for civilian facilities losses.…
The sectors of the economy where it is impossible to set up work from home for the employees have been affected the most by the war in Ukraine, the First Deputy Minister of Economy Denys Kudin has said. “The most affected areas are those where telework is impossible. In particular, today we have no air…
Global credit rating agency Standard and Poor’s (S&P) lowered Estonia’s economic outlook from “positive” to “stable” due to the impacts of Russia’s war in Ukraine. It did not change Estonia’s AA- status. The agency believes the war will impact Estonia’s economic growth and increase budget expenditures due to higher spending on defense, compensation of household…