Latvia enforces national and international sanctions in order to uphold peace, security and the rule of law, in accordance with Latvia’s international obligations and national interests. Every country can establish its own national sanctions. The Law on Sanctions specifies the situations, in which sanctions imposed by EU or NATO member states must be applied.
Types of sanctions
- Financial restrictions — involve limitations pertaining to financial instruments and assets owned, held or controlled by subjects of international law, by private individuals or legal entities, or by other identifiable targets of sanctions.
- Civil restrictions — pertain to all transactions with other economic assets if such transactions result in the change of ownership over such assets, with the purpose of these transactions being to make funding or other assets available to a target of sanctions.
- Travel restrictions — limit the ability of a target of sanctions to enter, or reside in the territory of Latvia, or to use it for transit as part of travel.
- Restrictions for the circulation of strategic and other goods — prohibit a target to sanctions to sell, deliver, transfer, export or transfer/make available in any manner specific types of strategic goods or other goods specified by law.
- Tourism service restrictions — whereby it is prohibited to offer tourism service involving travel to specific areas.
Competence of the Financial Intelligence Unit of Latvia
The Financial Intelligence Unit of Latvia is the authority in charge of combatting of circumvention of national and international sanctions, or attempts at circumventing financial restrictions, in the manner prescribed in the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing.
Other parties that are under the supervision of official bodies in charge of enforcing national and international sanctions must inform the Financial Intelligence Unit of Latvia of any suspected circumvention, or attempts at circumvention, of international and national sanctions pertaining to financial restrictions.
The Financial Intelligence Unit of Latvia keeps information about targets of sanctions in the form of lists of individuals, organisations or other identifiable entities that are subject to national or international sanctions. Because in the situations specified in the Law on International Sanctions and National Sanctions of the Republic of Latvia, Latvia must enforce sanctions imposed by member states of the EU or NATO, the Financial Intelligence Unit uses its website to post links to known EU/NATO sanction lists.
The sanction lists are available here.
Official bodies in charge of enforcing sanctions in Latvia
The Ministry of Foreign Affairs is the coordinating authority in the matters pertaining to sanctions in Latvia. Its task is to coordinate the circulation of information related to the imposition and implementation of sanctions and the use of exceptions to sanctions in Latvia with international organisations and competent foreign agencies.
Other competent institutions:
- The Office of Citizenship and Migration Affairs is responsible for travel restrictions.
- The Ministry of Economics is responsible for tourism service provision restrictions.
- The Financial and Capital Market Commission is in charge of financial restrictions.
- The State Revenue Service enforces financial and civil restrictions pertaining to the entities related to the finance industry that are under its supervision.
- The Consumer Rights Protection Centre is responsible for the financial and civil restrictions pertaining to the entities providing lending and debt collection services that are supervised by the Centre.
- The Latvian Council of Sworn Advocates is in charge of national and international sanction restrictions pertaining to the activities of sworn attorneys.
- The Latvian Association of Certified Auditors is in charge of national and international sanction restrictions pertaining to the activities of certified auditors and certified auditor firms.
- The Lotteries and Gambling Supervisory Inspection of Latvia enforces the national and international sanction restrictions for the activities of lottery and gambling organisers.
- The National Cultural Heritage Authority is responsible for ensuring compliance with the national and international sanction restrictions related to transactions involving cultural heritage objects, and the circulations of art and antiques.
- The Bank of Latvia is in charge of the national and international sanction restrictions pertaining to companies buying and selling of on-hand cash in foreign currencies.
- Regional (city) court land register offices handle the enforcement of civil sanctions associated with real estate.