Lithuania's top diplomat says EU needs to review its security controls

Lithuania's top diplomat says EU needs to review its security controls

He told BNS that we need to have a look at what the Latvians did, but it seems to me that we already have what they did as companies that do not meet the Euro-Atlantic security criteria simply can't participate in transactions, let alone acquire controlling stakes.

Kasciunas pointed out the existence of a very strict procedure used by the government's special commission to vet foreign investors and transactions.

We have a strong vetting mechanism for strategic companies and deals, created in 2017 by the commission, which allows companies to approach our institutions, offer contracts, technology in a wider sense than just acquiring shares. It includes the State Security Department and other services that manage information, Kasciunas said.

The existing controls are among the tightest within the EU, and they have so far helped prevent risky Chinese or Russian investments into Lithuania's strategic infrastructure. The politician did not rule out the possibility that the existing screening procedure could be improved.

Last week, Latvia's Saeima approved amendments to its national security law, banning Russian and Belarusian legal or natural persons from holding significant or controlling stakes in, or participating in the management of companies with national security importance to Latvia.