Lithuania's Ministry of Finance reported that Finance Minister Kristupas Vaitiekunas met with European Commissioner for Financial Services and the Savings and Investments Union Maria Luís Albuquerque to discuss the European Commission’s plans to deepen EU capital markets through the Savings and Investments Union, alongside options to strengthen EU sanctions against Russia and Belarus. The Ministry framed the Savings and Investments Union as aimed at a deeper, more transparent and integrated EU capital market that improves businesses’ access to finance and enables individuals to invest savings more effectively. It highlighted the initiative’s focus on reducing small businesses’ reliance on bank funding, improving access to capital for long-term and innovation needs, increasing retail participation where savings remain in deposits, and reducing fragmentation that complicates cross-border investment. The release pointed to Commission actions already underway, including a proposal to revise securitisation rules, a communication on a financial literacy strategy, and a recommendation on savings accounts that encourages Member States to facilitate retail investment through convenient tax administration, with further legislative proposals planned on capital market infrastructure, SME access to capital, occupational pension funds and pan-European personal pension products. On sanctions, the Minister welcomed agreement at EU level on a 19th sanctions package at the end of October and called for a debate on the next package, including stepped-up restrictions targeting Russia’s energy and financial sectors. The meeting also discussed strengthening sanctions against Belarus, aligning them with those imposed on Russia and adding further restrictions in light of recurring hybrid attacks.

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