Prime Minister Saulius Skvernelis believes that another review is needed to determine if Revolut, a UK-based fintech startup that is setting up a specialized bank in Lithuania, meets the country's national security interests.
© DELFI / Andrius Ufartas

"I think there is such a need, because the financial sector is a sensitive sector and if there are any circumstances, the commission has to look at them," Skvernelis told reporters on Thursday.

The government's commission that is vetting transactions by strategic companies is depoliticized and makes its decisions based on information from special services and other bodies, he said.

The Seimas is to discuss later in the day if the ask for another review of Revolut's compliance by the commission.

Vytautas Bakas, chairman of the parliament's Committee on Budget and Finance (CBF), wants the commission to look once again at whether Revolut meets Lithuania's national security interests, saying that new circumstances have emerged.

The lawmaker says he has doubts as to the startup's business model, money-laundering control and links to Russia.

The government commission has twice stated that the firm poses no threats.

Revolut Bank was granted the license of a specialized bank by the European Central Bank through the Bank of Lithuania last December.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Lithuania posts one of EU's largest monthly decreases in industrial production

Lithuania posted one of the largest monthly decreases in industrial production among the EU's member...

President's proposed faster pension rise to cost EUR 65 mln in 2 years

A faster increase in pensions, proposed by Lithuanian President Gitanas Nauseda, will cost the state...

Foreign countries surprised by Lithuanian success in this field

Growing social pressure regarding waste and ecology forces countries to introduce packaging...

Residents to be offered EUR 1,000 for less polluting cars

Lithuanian residents will be able to ask for 1,000 euros in compensation when changing their old...

Biggest land owners in Lithuania named

Ramunas Karbauskis , leader of the ruling Lithuanian Farmers and Greens Union, businessman Darius...