Finland’s biggest energy company, Fortum, said on Tuesday that it will take a loss of nearly one billion euros related to the cancelled Nord Stream 2 pipeline project. Its German subsidiary Uniper has an outstanding loan to the project company that totals 987 million euros including accrued interest. Fortum saidContinue Reading
The war in Ukraine and Finland’s geographical proximity to Russia affect the country’s appeal as a travel destination, with some tourists already cancelling trips. Finland’s position as the neighbour of Russia affects how attractive the Nordic nation is viewed from abroad as a travel destination. As the crisis in UkraineContinue Reading
A Polish citizen has been detained near the Polish border in Lithuania’s southern Lazdijai district near, attempting to take illegal migrants out of the country, the State Border Guard Service said. Lithuanian border guards stopped a passenger car for checks, driven by the Polish citizen. A passenger was also aContinue Reading
Close to €6 million in donations in support of the Ukrainian people has already been raised in Estonia as of Friday. Five main organizations make up the “Ukraina heaks!” initiative, and between them had raised €5.9 million as of Friday. Opposition parties already launched protest activity against useless money spending.Continue Reading
Secretary of State for Scotland Alister Jack’s visit included meeting with business representatives and key political figures. Scottish Secretary Alister Jack this week travelled to Finland and Norway on a mission to boost post-Brexit trade links. Finland and Norway have strong business links with Scotland, with Scottish exports to bothContinue Reading
Russia’s operation in Ukraine has resulted in the rise of energy resource prices, as gas price soared by nearly 40% and the price of oil reached USD 105 (EUR 94.18) On the day of Russian operation, Thursday, February 24, Brent crude oil price hit USD 105 per barrel for theContinue Reading
Prime Minister Kaja Kallas (Reform) said on Thursday she did not recommend that Estonians volunteer to fight in Ukraine. People who fight for Belarus or Russia face five years in jail. Speaking at the government’s weekly press conference on Thursday, Kallas spoke about Estonians who want to fight on theContinue Reading
Germany has granted Estonia permission to send weapons, formerly owned by the country, to Ukraine, media outlets Die Zeit and Deutsche Welle reported on Saturday. Prime Minister Kaja Kallas has confirmed the news. Estonia sought permission to send 122-millimeter howitzers, previously owned by Germany and Finland, to Ukraine more thanContinue Reading
European Union sanctions against Russia could affect one in four companies in Finland doing business in Russia, according to Finnish Customs. Some 2,000 companies in Finland do business across the eastern border. A quarter of these operate in sectors targeted by sanctions, Customs said. The EU’s sanctions package targets theContinue Reading
“The first column of troops and combat equipment from the US Army’s 3rd Cavalry Regiment crossed the Lithuanian border near Kalvarija at around 3 a.m.,” the Lithuanian Armed Forces said. The troops and equipment, including infantry fighting vehicles, armored SUVs and trucks, will be taking part in the Saber StrikeContinue Reading