Lithuania

China tightens the screws on Lithuania by strong-arming multinationals

Reading Time: < 1 minute

China is leveraging its influence over multinational companies operating there, instructing them not to do business with Lithuania, or else. For the tiny Baltic country, that means not having access to Chinese markets. It’s the latest volley in a row with Lithuania over it having allowed Taiwan to open a de facto embassy in Lithuania’s capital, Vilnius. Beijing took that as an affront, as it considers the self-governed island nation a part of China.

Chinese foreign ministry spokesman Wang Wenbin alleges that through its actions Vilnius has injured China’s sovereignty and territorial integrity.

Some companies have, in fact, been strong-armed by China, in an attempt to dissuade them from doing business with Lithuanian firms, according to Lithuania’s vice-minister for foreign affairs, Mantas Adomenas, who says that China has also been lessening exports to his country.

It’s possible Lithuania will set up a fund to shield its companies from Beijing’s retaliation, and it may appeal to the European Commission for help. In May, Vilnius left the “17 + 1” group of countries from Central and Eastern Europe designed to collaborate with China.

Source: Independent

CET Editor

Recent Posts

North Macedonia president loses big in first election round

No candidate received a majority of votes in the first round of the Presidential elections…

3 days ago

Czech FM visits Budapest, as Hungary prepares for EU presidency

Hungary will focus on key issues for central Europe during its upcoming EU presidency, Hungarian…

3 days ago

Westinghouse increasingly central to CEE’s shift from Russian nuclear industry

US nuclear firm Westinghouse Electric Company has signed memorandums of understanding (MOUs) with 17 Bulgarian…

7 days ago

AI will transform Adriatic economies – Microsoft

By 2030 Artificial Intelligence could be contributing as much as 11.5%, or USD 700bn (EUR…

1 week ago

CEE countries register EU’s highest, lowest inflation

Lithuania had the lowest annual inflation rate of 0.4% in the EU in March 2024,…

1 week ago

Lithuanians to vote on joint foreign citizenships next month

Lithuania will hold a constitutional referendum on whether its citizens can hold dual and multiple…

2 weeks ago