Russian-Ukrainian conflict impacts Latvia’s business environment
Baltic News Network
Wednesday, July 16, 2014
Considering the development of the economic environment and political situation, Coface International Credit Risk Insurance Company has changed the outlook for several countries. The outlook has been upgraded for countries of Western Europe and so-called new development markets. Latvia’s outlook has been downgraded.
Estonia and Lithuania have so far failed to agree on how the Baltic power grids are to be synchronized with the Western European system and a memorandum of understanding will not be signed during the EU summit on Thursday, as planned, Lithuanian Energy Minister Žygimantas Vaičiūnas said, adding that this might be done later this year.
The Baltic prime ministers say that their countries are ready for Zapad, a major military exercise to be held jointly by Russia and Belarus in September, and feel safe after NATO partners have deployed additional capabilities in the region.
Two terminals could operate on the eastern coast of the Baltic Sea controlled by the three Baltic states – in Lithuania's Klaipėda and in Estonia, which could build a small terminal, Lithuania's Prime Minister Saulius Skvernelis stated on Friday. In his words, the two terminals would supplement each other along with the Inčukalns gas storage facility in Latvia.