In the year since the Russian invasion of Ukraine, in response to the sanctions imposed by Western countries, restrictions have been applied in Latvia to companies, real estates and financial assets belonging to Russian oligarchs and other persons connected to Russian President Vladimir Putin or supporting the invasion.
There are many such objects. Including the private plane of the Russian oligarch Roman Abramovich, which landed at the Riga airport only a few days after the Russian invasion of Ukraine. It has remained here, because soon after its arrival, sanctions came into force that prevented it from leaving, and it is not yet clear what will happen to it next.
The same applies to other real estates, financial assets, companies and assets whose owners are subject to sanctions and which are located in Latvia – a large part of them cannot be expropriated or used.
True, even at the European level, the processes related to the sale of Russian assets subject to sanctions do not proceed quickly. Here we should remind about the 300 billion dollars worth of currency reserves of the Russian central bank, which are planned to be used for the reconstruction of Ukraine – a part of this amount has still not been found, not to mention its physical arrival at the intended goal.
“Delfi Bizness” explains what the current status of individuals, properties and funds belonging to persons subject to sanctions and what is planned to be done with them in Latvia.
