DIRS.INFO The most relevant business & tech news

☆ Poland, Baltics will shut Belarus border if 'critical incident' occurs -minister
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

WARSAW, Aug 28 (Reuters) - Poland and the Baltic states will close their borders with Belarus entirely if a "critical incident" involving Wagner mercenaries takes place, the Polish interior minister said on Monday, amid rising tensions on NATO's eastern flank. EU and NATO members Latvia, Lithuania and Poland, which share a border with Belarus, have been increasingly concerned about border security since hundreds of Russian battle-hardened Wagner mercenaries arrived in Belarus at the invitation of President Alexander Lukashenko. "If there is a critical incident, regardless of whether it is at the Polish or Lithuanian border, we will retaliate immediately. Lithuanian Interior Minister Agne Bilotaite told media that there were two criteria that could lead to a border closure. Poland has closed all but one border crossing point with Belarus this year following the imprisonment of a journalist of Polish origin and expulsions of Polish diplomats.

Persons: Wagner, Alexander Lukashenko, Mariusz Kaminski, Yevgeny Prigozhin, Agne Bilotaite, Bilotaite, Alan Charlish, Pawel Florkiewicz, Marek Strzelecki, Andrius, Conor Humphries, Nick Macfie Organizations: WARSAW, EU, NATO, Wagner Group, Lithuanian, Thomson Locations: Poland, Baltic, Belarus, Latvia, Lithuania, Minsk, Latvian, Estonian, Lithuanian, Belarusian, Russia, Europe, East, Africa, Warsaw, Andrius Sytas, Vilnius

☆ Lithuania closes two Belarus border crossings
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +1 min

The government did not spell out the circumstances nor threats in its reasoning for closing from Friday the two rural crossing points, which were not used by commercial vehicles. Over the previous few weeks Lithuanian officials have discouraged its citizens from travelling to Belarus, a close Russian ally, setting up signs at the borders saying: "Do not risk your safety – do not travel to Belarus. Neighbouring Poland has closed all but one border crossing point with Belarus this year following the imprisonment of a journalist of Polish origin and expulsions of Polish diplomats. Poland announced plans last week to move 10,000 additional troops to the Belarus border to support existing guards. In 2021, Latvia, Poland and Lithuania faced an immigration crisis when thousands of people, mostly from the Middle East and Africa, began crossing from Belarus.

Persons: Andrius Sytas, Terje Solsvik, Angus MacSwan Organizations: Russian Wagner Group, Thomson Locations: VILNIUS, Lithuanian, Belarus, Russian, Poland, Latvia, Lithuania, East, Africa

Latvia's Prime Minister Krisjanis Karins addresses the opening session on the first day of the Ukraine Recovery Conference in London, Britain June 21, 2023. Henry Nicholls/Pool via REUTERSRIGA, Aug 14 (Reuters) - Latvian Prime Minister Krisjanis Karins announced his resignation on Monday, blaming a breakdown in relations with parts of his multi-party governing government. Karins' New Unity party plans to select its candidate for prime minister on Wednesday, he said. President Edgars Rinkevics has responsibility for giving a mandate to a new prime minister to try to form a government. Latvia's next parliamentary election is scheduled for 2026.

Persons: Krisjanis Karins, Henry Nicholls, Karins, Aivars Lembergs, Edgars Rinkevics, Latvia's, Janis Laizans, Andrius, Terje Solsvik, John Stonestreet Organizations: Latvia's, Conference, REUTERS, Latvian, European Union, NATO, Unity, National Alliance, Progressives, Greens, Farmers Union, Thomson Locations: Ukraine, London, Britain, REUTERS RIGA, Lithuania, Estonia, Latvia, Russia, Ventspils

VILNIUS, July 12 (Reuters) - Ukrainian President Volodymyr Zelenskiy meets NATO leaders on Wednesday after they declared his country's future lay inside the alliance but rebuffed his call for a timeline to membership. Zelenskiy will join the NATO leaders on the second day of their summit in Vilnius for an inaugural session of the NATO-Ukraine Council, a body established to upgrade relations between Kyiv and the 31-member transatlantic military alliance. At a rally in Vilnius on Tuesday, Zelenskiy expressed disappointment that NATO had not offered a timeline to membership - a prospect he had earlier branded "absurd". Its leaders on Tuesday reiterated a 2008 declaration that Ukraine would join NATO but also made clear this would not happen automatically after the war ends. Although it did not get what it wanted on membership at the summit, Ukraine has received new pledges of arms from NATO members.

Persons: Volodymyr Zelenskiy, Zelenskiy, Joe Biden, Vladimir Putin, Emmanuel Macron, Andrius Sytas, Steve Holland, Anna Pruchnicka, Olena Harmash, Lewis Macdonald, Ronald Popeski, Rosalba O'Brien Organizations: NATO, U.S, Twitter, Patriot, Thomson Locations: VILNIUS, Vilnius, Ukraine, Kyiv, United States, Britain, France, Germany, Russia, Europe, Russian, Paris

Sweden and Finland applied for NATO membership last year, abandoning their policies of military non-alignment that had lasted through the decades of the Cold War in response to Russia's invasion of Ukraine. While Finland's NATO membership was green-lighted in April, Turkey and Hungary have yet to clear Sweden's bid. NATO Secretary-General Jens Stoltenberg, Turkish President Tayyip Erdogan and Swedish Prime Minister Ulf Kristersson react during a meeting, on the eve of a NATO summit, in Vilnius, Lithuania July 10, 2023. "This has been a good day for Sweden," Kristersson told reporters, saying the joint statement on Monday represented "a very big step" toward the final ratification of Sweden's membership of NATO. After Hungarian Prime Minister Viktor Orban's chief of staff said on Thursday that Budapest would now no longer block Sweden's NATO membership ratification, Turkish approval would remove the last hurdle for Swedish accession to NATO, applications for which must be approved by all members.

Persons: Tayyip Erdogan, Sweden's, Erdogan, Jens Stoltenberg, Ulf Kristersson, Yves Herman / Pool Erdogan, Kristersson, Monday, Stoltenberg, Viktor Orban's, Joe Biden, Niklas Pollard, Andrius, Anna Ringstrom, Johan Ahlander, Ezgi, John Irish, William Maclean, Rosalba O'Brien Organizations: NATO, Kurdistan Workers Party, EU, REUTERS, European Union, Finland's, Hungarian, Lockheed Martin Corp, Pawlak, Thomson Locations: VILNIUS, Ukraine, Sweden, Finland, Turkey, Hungary, Stockholm, Lithuanian, Vilnius, Swedish, Madrid, Ankara, United States, Lithuania, Turkey's, European, Budapest, Washington, Istanbul

VILNIUS, July 10 (Reuters) - Ukraine's largest Western allies are still finalising a joint framework that would pave the way for long-term security assurances for Kyiv, and may wait until the end of a NATO summit this week to announce them, European diplomats say. The 31-member NATO alliance meets in Lithuania on Tuesday, aiming above all to give Ukraine some kind of path to membership, but still divided over how far to go. But it wants a firm commitment at the summit that it will be invited to join after the war. In the meantime, it has sought assurances of current and long-term security commitments to help it defend itself now and deter renewed aggression from Moscow once the war ends. The United States' military aid for Israel is worth about $3.5 billion a year, but the relationship also entails a great deal of political support.

Persons: Joe Biden, Washington, Andrew Gray, Sabine Siebold, Alexander Ratz Organizations: Kyiv, NATO, European Union, European Union . U.S, CNN, United, Thomson Locations: VILNIUS, Lithuania, Ukraine, Russia, Moscow, Britain, France, Germany, United States, Japan, Canada, Italy, Israel, Berlin

☆ NATO allies agree plans for defence against Russian attack -sources
▼ + stars: | 2023-07-10 | by ( Sabine Siebold | ) www.reuters.com time to read: +1 min

VILNIUS, July 10 (Reuters) - NATO allies on Monday reached agreement on defence plans detailing how the alliance would respond to a Russian attack, overcoming a Turkish hurdle one day before leaders meet for a summit in Vilnius, five diplomats told Reuters. NATO had for decades seen no need for large-scale defence plans, as it fought smaller wars in Afghanistan and Iraq and felt certain post-Soviet Russia no longer posed an existential threat. Turkey had been blocking approval of what NATO calls its regional plans over the wording on geographical locations such as Cyprus. NATO leaders gather in Vilnius on July 11-12 for a summit that will discuss Sweden's membership and the alliance's future relationship with Ukraine. By outlining its regional plans, NATO will also give nations guidance on how to upgrade their forces and logistics.

Persons: Sabine Siebold, Andrew Gray, Andrius Sytas, John Irish, Rosalba O'Brien Organizations: NATO, Reuters, Thomson Locations: VILNIUS, Vilnius, Afghanistan, Iraq, Soviet Russia, Ukraine, Moscow, Turkey, Cyprus

[1/5] German Patriot air defence system units are seen at the Vilnius airport in Vilnius, Lithuania July 7, 2023. Many are also providing advanced air defence systems which the Baltic states lack. But for the region with total population of about 6 million people, this is not enough to sustain large militaries, invest in their own fighter jets or advanced air defence. NATO is NATO, and we feel ourselves safe because we are in NATO. He added that he feared waves of migrants at the border, or border violations, or military vehicles appearing at the border without explanation.

Persons: Janis Laizans, Joe Biden, Biden, Gitanas Nauseda, Caesar, Wagner, Edvard Rynkun, Elena Tarasevic, Col Steffen Lieb, Rustamas Liubajevas, Sabine Siebold, John Irish, William Maclean Organizations: Patriot, REUTERS, NATO, Belarus Allies, Baltic, European Union, Reuters, Wagner, Thomson Locations: Vilnius, Lithuania, Belarus, KANIUKAI, Russia, Baltic, Estonia, Latvia, Germany, Spain, France, Finland, Denmark, United Kingdom, Poland, Kaniukai, Ukraine, Kaliningrad, Russian, Minsk

Lithuania is the only one of the three states to have a land link to a fellow NATO ally, Poland. The three Baltic states have also attracted journalists who have fled Russia. DEFENCESpurred by Russia's annexation of Crimea in 2014, the three Baltic states sharply increased military spending. According to NATO estimates for 2022, all three exceeded the NATO agreement to spend 2% of gross domestic product on defence. Since the invasion of Ukraine, the Baltic states have requested the forces deployed are beefed up to 3,000-5,000 troops in each state.

Persons: Alexei Navalny, Sviatlana Tsikhanouskaya, Boris Pistorius, Andrius Sytas, Edmund Blair Organizations: NATO, RAND Corporation, European Union, Corruption, German, Thomson Locations: VILNIUS, Lithuania, Baltic, Ukraine, Estonia, Latvia, Soviet Union, Siberia, Soviet, Russia, Belarus, NATO, Poland, Russia's Kaliningrad, Estonian, U.S, RUSSIA, UKRAINE, United States, West, Moscow, Vilnius, Russian, Crimea, Germany, Britain, Canada, British

U.S. President Joe Biden, Turkish President Tayyip Erdogan, German Chancellor Olaf Scholz, French President Emmanuel Macron and British Prime Minister Rishi Sunak will be among the 31 NATO leaders attending the summit in the small Baltic state. The invasion prompted Finland and Sweden to abandon decades of military non-alignment and apply to join NATO. In Vilnius, Finland will attend its first NATO summit as a member. At the summit, the NATO leaders are also expected to agree they should all spend at least 2% of national GDP on defence - an upgrade on a 2014 pledge to move towards that number. The NATO leaders will also meet with counterparts from Japan, South Korea, Australia and New Zealand as Washington presses the alliance to play a greater role in countering China.

Persons: Joe Biden, Tayyip Erdogan, Olaf Scholz, Emmanuel Macron, Rishi Sunak, Volodymyr Zelenskiy, Zelenskiy, Jens Stoltenberg, Stoltenberg, Erdogan, Ulf Kristersson, John Irish, Andrius Sytas, Huseyin Hayatsever, William Maclean Organizations: Russia VILNIUS, NATO, Patriot, U.S, British, Ukraine Council, Atlantic Treaty Organization, Soviet Union, Vilnius, Thomson Locations: Ukraine, Vilnius, Sweden, Europe, Lithuanian, Germany, Prague, Eastern Europe, Russia, United States, Bucharest, France, Britain, TURKEY, SWEDEN, Soviet, Finland, Turkey, Stockholm, Ankara, Swedish, Greece, Cyprus, Japan, South Korea, Australia, New Zealand, Washington, China, Istanbul

☆ Study shows 130 countries exploring central bank digital currencies
▼ + stars: | 2023-06-28 | by ( Marc Jones | ) www.reuters.com time to read: +3 min

LONDON, June 28 (Reuters) - A total of 130 countries representing 98% of the global economy are now exploring digital versions of their currencies, with almost half in advanced development, pilot or launch stages, a closely-followed study shows. Eleven countries, including a number in the Caribbean, and Nigeria, have already launched central bank digital currencies (CBDCs) as they are known, while pilot testing in China now reaches 260 million people and covers 200 scenarios from e-commerce to government stimulus payments. Two other big emerging economies, India and Brazil, also plan to launch digital currencies next year. U.S. President Joe Biden ordered government officials to assess the risks and benefits of creating a digital dollar in March 2022. A worker at the Lithuanian mint holds a silver coin, produced to be exchanged for sets of digital currency released by Lithuanian central bank in Vilnius, Lithuania June 1, 2020.

Persons: Joe Biden, Andrius, Marc Jones, Mark Potter Organizations: Council, European Central Bank, REUTERS, Federal Reserve, Big Tech, Visa, Mastercard, Atlantic Council, Bank of England, Thomson Locations: U.S, Argentina, Caribbean, Nigeria, China, India, Brazil, United States, Lithuanian, Vilnius, Lithuania, Russia, Venezuela, Europe, Ukraine, Sweden, Australia, Thailand, South Korea, CBDCs, Senegal, Ecuador

TALLINN, June 20 (Reuters) - Estonia's parliament approved on Tuesday a law to legalise same-sex marriage, making it the first central European country to do so. Same-sex marriage is legal in much of western Europe but not in central European countries which were once under communist rule and members of the Moscow-led Warsaw Pact alliance but now members of NATO and, largely, the EU. In the largely secular Baltic country of 1.3 million, 53% of the population supported same-sex marriage in a 2023 poll by the Centre for Human Rights. Same-sex marriage is opposed by the ethnic-Russian minority, which constitutes a quarter of the country, with only 40% of them supporting it. Latvia and Lithuania, the other two Baltic countries which were previously annexed by the Soviet Union, have same-sex partnership bills stuck in their parliaments.

Persons: Kaja Kallas, Kallas, Tomas Jermalavicius, Janis Laizans, Terje Solsvik, Ed Osmond Organizations: NATO, Reuters, Centre for Human Rights, Gay, International Centre for Defence, Security, Andrius Sytas, Thomson Locations: TALLINN, Europe, Moscow, Warsaw, EU, Baltic, Estonia, Latvia, Lithuania, Soviet Union, Tallinn, Andrius, Vilnius

☆ ECB policymakers line up behind rate hike plans
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +3 min

Underlying inflation eased to 5.3% in May, but a big chunk of the drop was due to a one-off administrative discount in German transport prices. Wunsch has said in the past that the ECB's deposit rate could hit 4% if underlying inflation did not moderate. Joining the chorus behind rate hikes, Estonian central bank chief Madis Muller said more rate action is needed. "Euro zone interest rates have not yet peaked," Muller said in a statement. "The ultimate goal is clear for the central bank - we need to quickly get the price rise under control."

Persons: Joachim Nagel, Pierre Wunsch, Wunsch, Austria's Robert Holzmann, Gediminas Simkus, Madis Muller, " Muller, Balazs Koranyi, Andrius Sytas, Julia Payne, Francois Murphy, Terje Solsvik, Alex Richardson, Toby Chopra, Jan Harvey Organizations: Central Bank, ECB, Thomson Locations: FRANKFURT, Belgian, U.S, Estonian

☆ Ukraine's counteroffensive has been underwhelming so far — but it's low key for a reason
▼ + stars: | 2023-06-16 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Anatolii Stepanov | Afp | Getty ImagesWhen Ukraine's counteroffensive started last week there was no fanfare or official announcement, but that wasn't entirely unexpected. "We are trying to find the weakest places in the Russian defense line. Nonetheless, Ukraine's deputy defense minister conceded Wednesday that the fighting was "extremely fierce" and that the counteroffensive had only had "partial success" so far. CNBC contacted Ukraine's defense ministry for further comment and is awaiting a response. "We will see the main punches of Ukrainian forces in the nearest future.

Persons: Anatolii Stepanov, Nick Reynolds, Andrius, Oleksandr Musiyenko, Musiyenko, Matthew Miller, RUSI's Reynolds, they've, it's Organizations: Afp, Getty, Kyiv, CNBC, Defense, Centre for Military, Legal Studies, Velyka Novosilka, Ukrainian, Anadolu Agency, NATO, . State Locations: Zaporizhzhia, Ukraine, Russian, Kharkiv, Kherson, London, Russia, Central, Eastern Europe, Kyiv, Velyka, Donetsk, Bakhmut, Crimea, Donbas, Moscow

☆ Ukraine's dam disaster is 'unlikely' to derail its plans for a counteroffensive against Russia
▼ + stars: | 2023-06-09 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Ukraine accused Russian forces of blowing up the dam, while the Kremlin denied the attack and said Kyiv intentionally sabotaged the dam to distract attention from its counteroffensive. The dam breach comes amid months of buildup to Ukraine's counteroffensive, a phase of the war that many see as potentially pivotal in Kyiv's pursuit of victory. A spokesperson for the General Staff of the Ukrainian Armed Forces on Friday, however, dismissed reports that a counteroffensive had begun, according to Reuters. Ukraine's government has repeatedly said there will be no public announcement of the start of the counteroffensive. Andrius Tursa, central and Eastern Europe advisor at Teneo, a political risk consultancy, said the destruction of the Nova Kakhovka dam may alter Ukraine's offensive plans — but was "unlikely to derail" them.

Persons: Andrius, Tursa Organizations: Kremlin, CNBC, NBC, General Staff, Ukrainian Armed Forces, Reuters Locations: Donetsk region, Russian, Ukraine, Kyiv, Eastern Europe, Nova, Crimea

VILNIUS, May 29 (Reuters) - Latvians woke up to go to work on Monday morning, only to find they didn't have to. Their parliament had met at midnight to declare a holiday after the national ice hockey team chalked up its best-ever result at the world championship. Latvia, where hockey is the national sport, was co-hosting the men's championship with Finland, and the Latvians' extra-time victory over the U.S. for third place was greeted with wild jubilation. At quarter to midnight on Sunday, sporting red and white national team jerseys, members of parliament convened for a ten-minute session to unanimously declare the holiday. The bill was introduced by a smiling member of parliament with her face painted in the colours of the national flag.

☆ Estonia and Latvia look to purchase mid-range air defence from Germany
▼ + stars: | 2023-05-21 | by ( ) www.reuters.com time to read: +1 min

VILNIUS, May 21 (Reuters) - European Union and NATO members Estonia and Latvia will begin negotiations with Germany's Diehl Defence for the purchase of a medium-range air defence system, Estonia's Defence Ministry said on Sunday. The cost of the Iris-T SLM air defence system and additional capabilities such as infrastructure, personnel, training, equipment, will be determined at the negotiations, which could be concluded during the summer, it added. “Our objective is to ensure operational medium-range air defence capabilities for Estonia by 2025, which means that the first systems should arrive in 2024,” Estonia's Defence Minister Hanno Pevkur said. The purchase will be led by Estonia Centre for Defence Investment. Last October, Estonia and Latvia were among 14 European NATO partners to sign a letter of intent to jointly procure air defence systems as Russia's war in Ukraine highlighted shortages.

[1/5] Teacher Inese Rudzite stands in front of Russian citizens during the Latvian language learning class in Riga, Latvia May 2, 2023. Speaking Russian instead of Latvian has not been a problem until now, but the war in Ukraine changed the picture. He said the test was needed because Russian authorities justified their invasion of Ukraine by the need to protect Russian nationals abroad. "I think that learning Latvian is right, but this pressure is wrong," Sevastjanova said. But now I end up learning Latvian instead.

☆ Russian fertilizer seized in Latvia sent to Kenya by UN agency
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +1 min

VILNIUS, April 22 (Reuters) - Russian-origin fertilizer which Latvia seized due to European Union sanctions is being sent to Kenya by the United Nations' World Food Programme, Latvia's Foreign Ministry said on Saturday. The first shipment of part of the 200,000 tonnes of the seized fertilizer left the port of Riga on Friday and several more are due to follow, it added. "The Latvian Government decided to facilitate the donation, with support from the UN World Food Programme, of mineral fertilizers owned by companies sanctioned by the European Union," the statement said. "Together with its foreign partners and international organisations, Latvia continues providing support for the countries that have been affected by the food crisis triggered by Russia’s war on Ukraine." Reporting by Andrius Sytas in Vilnius; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

☆ Estonia PM focused on defence spending and same sex marriage law
▼ + stars: | 2023-04-12 | by ( Andrius Sytas | ) www.reuters.com time to read: +3 min

[1/2] Estonian Prime Minister Kaja Kallas speaks to the media as she attends the European Union leaders summit in Brussels, Belgium March 23, 2023. REUTERS/Johanna GeronTALLINN, April 12 (Reuters) - Kaja Kallas said on Wednesday she was focused on her next term as Estonian prime minister despite media speculation she could be in the running to lead NATO, with plans including legalising same sex marriage and increasing defence spending. Taxes will be raised to fund the spending in a time of economic contraction, Kallas has said. The new government will also legislate same sex marriage equality "as fast as possible", Kallas said, becoming the first Central European country to do so. I'm the prime minister of Estonia, and I try to solve all the problems that we have here."

☆ Lithuania to call for sanctions over Russian plan for nuclear weapons in Belarus
▼ + stars: | 2023-03-26 | by ( Andrius Sytas | ) www.reuters.com time to read: +1 min

VILNIUS, March 26 (Reuters) - Lithuania said on Sunday it would call for new sanctions against Moscow and Minsk in response to Russia's plan to station tactical nuclear weapons in Belarus. The statement from Lithuania's foreign ministry came hours after NATO criticised Russian President Vladimir Putin for what it called his "dangerous and irresponsible" nuclear rhetoric. Lithuania will ask for the additional sanctions on Russia and Belarus to be included in a package of penalties being discussed in Brussels, the ministry's spokesperson said. "Together with its Euro-Atlantic partners, Lithuania will decide how to react to these militaristic plans of the Russian and Belarusian regimes," the ministry said in a statement. Putin on Saturday likened his plans to the U.S. stationing its weapons in Europe, while insisting that Russia would not violate its nuclear non-proliferation promises.

☆ Ecumenical patriarch: Russian Church shares blame for 'crimes' in Ukraine
▼ + stars: | 2023-03-22 | by ( Andrius Sytas | ) www.reuters.com time to read: +3 min

Ecumenical Patriarch Bartholomew's comments are a rebuke for Russian Patriarch Kirill, whose full-throated blessing for Moscow's invasion of Ukraine has splintered the worldwide Orthodox Church. Bartholomew, who in 2019 infuriated Moscow by recognising the newly established Orthodox Church of Ukraine, said Russian authorities were using the Church as an "instrument for their strategic objectives". The Russian Orthodox Church had no immediate comment. 'MOTHER CHURCH'The Ecumenical Patriarch is based in Istanbul and is viewed as "first among equals" in the Orthodox Church, which has some 260 million followers worldwide, around 100 million of them in Russia. Ukraine says Russia is waging an unprovoked war of aggression aimed at seizing land and crushing its independence.

"I am very well aware of the delicacy of the situation ... but we are not yet at the finish line." Fellow hawk Simkus also told reporters in Vilnius he believed that Thursday's "was not the last rate hike". But neither policymaker made a case for a rate increase as soon as the next ECB meeting, and Kazimir said it was useless to speculate about the May 4 decision. French central bank governor Francois Villeroy de Galhau said the hike reflected the ECB's inflation-fighting priorities and signalled confidence in the solidity of European banks. "There are risks to inflation on both sides, but in my view, upward risks are much greater," he said.

☆ Russia can fight in Ukraine for two more years at current intensity, Lithuania says
▼ + stars: | 2023-03-09 | by ( Andrius Sytas | ) www.reuters.com time to read: +2 min

VILNIUS, March 9 (Reuters) - The chief of Lithuania's military intelligence said Russia has enough resources to continue the war in Ukraine for two more years at the current intensity. Moscow says it launched its "special military operation" in Ukraine a year ago to combat a security threat. "The resources which Russia has at the moment would be enough to continue the war at the present intensity for two years", Lithuania's intelligence chief Elegijus Paulavicius told reporters. Lithuania's intelligence services said sanctions had not harmed Russia's ability to fund its military as it redirects resources to them from public welfare. "This will depend greatly on the duration and the outcome of the war in Ukraine – the longer and the costlier the war, the more time it will take," the report said.

☆ Lithuania aims to raise $539 mln from temporary windfall tax on banks
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

VILNIUS, March 9 (Reuters) - Lithuania's finance minister proposed on Thursday a temporary windfall tax on bank profits, aiming to raise an estimated 510 million euros ($538.7 million) over a two-year period. "In large part, the policy of banks has no influence on the profits, they are due to exceptional circumstances, and are probably surprising to banks themselves," Skaiste said. The government and the central bank had previously said Lithuania was contemplating a windfall tax on the banking industry, but had not said how much this could raise. The government's proposal would impose a two-year tax of 60% on the part of a bank's interest income that is more than 50% higher than a four-year average, Skaiste said. Two Swedish-owned groups hold more than half of Lithuania's banking assets, Swedbank (SWEDa.ST), whose 2022 profits increased by 64% to 148 million euros, and SEB (SEBa.ST), whose profits were up 49% to 172 million euros.

Search resuls for: "Andrius"

25 mentions found