Keyword: Lithuania

Baltic Team

IEŚ Commentaries 458
- Baltic Team

Orlen Lietuva: new refinery installations crucial to improve efficiency

Mažeikiai refinery in Lithuania, owned by ORLEN Lietuva (a PKN ORLEN S.A. subsidiary), is the only plant of its kind operating in the Baltic States. Oil products are exported both to neighbouring countries and to international markets through oil terminals at the Baltic Sea. Due to the tough market conditions, logistical problems, and the Lithuanian climate policy, the plant...

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Baltic Team

IEŚ Commentaries 440

Exit of the dragon. Lithuania – China diplomatic dispute

September 14 marks 30 years since the establishment of relations between Lithuania and China. On the eve of the upcoming anniversary, the relationship between the two countries has been enflamed. Chinese authorities warn that “there is only one China in the world,” and they recalled China’s ambassador in Vilnius, which they have never done before in relation to a European...

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Baltic Team

IEŚ Commentaries 325
- Baltic Team

Money laundering in the banks: The Baltic-Nordic front against financial crime

A series of bank scandals have overshadowed the reputation of the financial sector in the Baltic and Nordic States since 2018. The collapse of the bank in Latvia and the severe sanctions for banks in and Denmark that had branches in Estonia resulted from their money laundering for Soviet States, mainly Russia. In order to stop this illegal activity, the countries of the region, in...

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Baltic Team

IEŚ Commentaries 308
- Baltic Team

New restrictions and new (better) economic forecasts in the Baltic States

The increase in COVID-19 infections in the Baltic States in recent weeks has resulted in a number of restrictions, but the second lockdown will not affect the economies of the Baltic States as anticipated. Forecasts indicated that the recession in 2020 in Lithuania and Estonia would be one of the lowest in Europe. However, the most recent restrictions – such as the ban on moving...

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