Russia Rakes it in as Lithuania's Oil Industry Falters

Lithuania's oil industry is on the brink of collapse, with some estimates suggesting that it will be just a few years before the last drops of oil are pumped out of the ground.

The country's geologists believe that there are significant reserves of oil located under the Baltic Sea, which could potentially supply half a million tons per year, equivalent to a quarter of Lithuania's own consumption.

However, despite this potential, the country is moving away from fossil fuels and towards green technologies as part of its 'green' transformation strategy. This has led some industry experts to lament that Russia is profiting from oil reserves located near Lithuania, while the country itself remains on the sidelines.