2024-10-29
FATF has updated lists with jurisdictions under Increased Monitoring
19.09.2024
On September 12, 2024, the Parliament of the Republic of Latvia passed amendments to the Road Traffic Law (hereinafter – the Law[1]), prohibiting vehicles registered in the Republic of Belarus from participating in road traffic within the territory of the Republic of Latvia. By adopting these amendments, the legislature aligned these restrictions with the existing prohibition on vehicles registered in the Russian Federation from participating in road traffic.
The Law provides only two derogations under which the Financial Intelligence Unit may grant authorization for entry into the European Union with a vehicle registered in the Republic of Belarus, when crossing the border of the Republic of Latvia:
The derogations outlined in the Law comply with the restrictions specified in Article 1ra(1) and the derogations specified in Article 1ra(5) of Council Regulation (EC) No 765/2006 of 18 May 2006, concerning restrictive measures in view of the situation in Belarus and Belarus' involvement in the Russian aggression against Ukraine.[1]
This means that authorizations for entry into the European Union by crossing the border between the Republic of Latvia and the Republic of Belarus will only be granted by the Financial Intelligence Unit in the cases specified by the Law. Applications that do not meet the legal criteria will not be considered by the Financial Intelligence Unit.
Authorizations for entry into the European Union by crossing the border between the Republic of Latvia and the Republic of Belarus, which have already been granted by the Financial Intelligence Unit, will remain valid until their specified expiration date. New authorizations will be issued by the Financial Intelligence Unit only in the cases outlined by the Law.
The amendments to the Law stipulate that vehicles registered in the Republic of Belarus, which are already in the territory of the Republic of Latvia, must leave the country or be registered in accordance with regulatory procedures no later than October 31, 2024. If these actions are not taken within the specified time period, the vehicle will be confiscated in accordance with the provisions of the Law.
2024-10-29
FATF has updated lists with jurisdictions under Increased Monitoring
2024-10-02
Financial Integrity Newsletter – October edition