Even if the situation becomes dire, there will be enough gas for households, Latvian Prime Minister Krisjanis Karins has saod. Looking at the price rise for most goods, fuel included, Karins stressed that as long as Russia continued warr in Ukraine the global economy would remain fractured. The PM said the situation in which there…
Director of the Estonian Institute of Economic Research (EKI) Marje Josing said that Estonia was heading into another hugely expensive heating season, which was the result of decades of work not done. Senior economist for Swedbank Liis Elmik believes Estonia should once again offer support to less fortunate families. “It is work not done in…
The CEO of Poland’s dominant oil and gas company, PKN Orlen, has said that the European Commission (EC) should give the final green light to the takeover of its rival Lotos Group within several days. Daniel Obajtek told reporters on June 8 that he did not expect a decision other than final consent, because the…
Due to sanctions, Russia has been unable to sell its electricity to the Baltic countries and Finland since mid-May. Currently Estonia, Latvia and Lithuania are only connected to Russia due to being in the same frequency band, which is managed centrally from Moscow. However, as the Baltic States have been trying to maintain a clean…
The consumer price index (CPI) rose by 20% YoY in May, state agency Statistics Estonia said, driven primarily by soaring energy prices starting from last autumn. Services alone were 28.8% more expensive than in May last year, goods cost 15.7% more. Viktoria Trasanov, leading analyst at Statistics Estonia, said: “Electricity to the home was 146.3%…
The Ukrainian side would like the European Union to include a total embargo on Russian energy in the seventh package of sanctions. “What would we like to see in the seventh package of sanctions? Of course, time will tell, but we are talking about a total embargo on Russian energy, i.e. pipeline oil, but this…
The Ministry of Rural Affairs has turned to the Ministry of Economic Affairs and Communications (MKM), as it finds the latter has ignored prior agreements concerning compensation for the fishing sector in draft legislation regulating wind turbine fees. Draft legislation to reduce Estonia’s dependence on natural gas, currently in its second reading in the Riigikogu,…