The central Bank of Lithuania has proposed anti-inflationary measures aimed at helping people most affected by rising price. Such measures include a proposed further increase in non-taxable income, state compensations for those who heat their homes with gas or electricity, and potential public transport subsidies. The central bank is suggestingContinue Reading

Natural gas supplies do not constitute a weak point for Lithuania but the country’s dependence on Russian electricity is a major problem, which is why it is necessary to synchronize the country’s electricity grids with those of the West as soon as possible, Lithuania’s European Commissioner Virginijus Sinkevicius has said.Continue 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