The chairman of Lithuania’s parliamentary National Security and Defense Committee, Giedrimas Jeglinskas, said Wednesday he sees no conflict of interest stemming from his investment in a company that develops drone technology.
Jeglinskas, who holds a small stake in Unmanned Defense Systems (UDS), a firm producing various types of unmanned aerial vehicles and drone swarm integration systems, told Žinių Radijas that he has not been involved in the company’s operations since beginning his parliamentary duties.
“Yes, I have invested in one drone company,” Jeglinskas said, adding that he has never discussed procurement matters with officials in the national defence system.
According to his public interest declaration, Jeglinskas owns 0.19% of shares in UDS, which was founded in 2022. Most shares are held by CEO Vytenis Buzas, including through another company.
Jeglinskas told BNS that he became a shareholder when UDS raised €3.2 million in private funding last year, led by the venture capital fund Coinvest Capital. He invested €20,000 as a business angel.
“I believed in the drones and the people who started the company,” he said.
The investment was publicly welcomed at the time by then-Defence Minister Laurynas Kasčiūnas.
Jeglinskas served briefly on UDS’s board from late September to November 1, 2024. He stepped down before being sworn in as a member of parliament and later became committee chair after the Democrats “For Lithuania” party joined the ruling coalition.
He said he did not expect to enter parliament when he joined the company’s board.
“I was placed low on the party list and had no real plans to become a member of parliament,” he said.
Although he was ranked No. 21 on the party list in the October 2024 parliamentary elections, he entered parliament after receiving a significant number of preferential votes.
“I even thought I might not take the seat if we ended up in the opposition,” Jeglinskas said. “When it became clear we would be part of the coalition, I stepped down from the board. That’s it.”
While Jeglinskas has publicly emphasised the importance of drone integration in modern warfare, he insists there is no conflict of interest.
“Warfare is changing. Ukraine is fighting a modern war where autonomy is becoming dominant,” he wrote in a Facebook post on Tuesday. “It would be naive to expect that drones – air, land, sea – won’t be important in future conflicts.”
He argued that Lithuania is underinvesting in drone capabilities but stressed that he holds no influence over military procurement.
“I have no levers to affect acquisitions, purchases, or capital allocations from the Ministry of National Defence. I only speak about the future of warfare based on what we see in Ukraine,” he said.
Jeglinskas said he has never discussed possible purchases from UDS with Defence Minister Dovile Šakalienė or other officials and is unaware of whether the company has participated in or won any government tenders.
He added that he has not taken part in company activities – including shareholder meetings – since last August.
Asked whether he should sell or transfer his shares, Jeglinskas said such expectations should apply to government ministers, not members of parliament.
“I believe that MPs have the right to own shares in companies. I’m not a decision-maker in budget allocation. That’s the government’s role,” he said. “Parliament exercises oversight – we ask questions, that’s all.”
“I am a minority shareholder – a deep minority, a very insignificant minority. So I really don’t see any grounds for a conflict of interest.”
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