1. Does Latvia have a sanctions regime in place?
Yes. The sanctions regime in place is based on the Law on International Sanctions and National Sanctions of the Republic of Latvia (also known as the Sanctions Law). According to the Sanctions Law international and national sanctions have to be enforced and complied to by any person, including:
• any person located in Latvia • any entity operating in Latvia • any entity incorporated or constituted under Latvian law
2. Does Latvia implement UN sanctions?
Yes. According to Article 11 of the Sanctions Law, sanctions imposed by the UNSC are directly applicable in Latvia by mere effect of such resolutions and need no incorporation.
3. Does Latvia implement an autonomous sanctions regime?
Yes. The Latvian government can implement autonomous sanctions. The Latvian government may impose national sanctions if it is not in contradiction with the international obligations of Latvia arising from the participation of Latvia in an international organization, and if it is necessary to achieve any of the following objectives:
• to achieve peace or to prevent international crimes or human rights violations outside the territory of Latvia • to prevent harm to external policy interests or national security of Latvia • to combat international terrorism or manufacture, storage, movement, use, or proliferation of weapons of mass destruction; • to prevent justification of such actions or invitation to such actions, which are against the objectives referred to in the previous three bullet points
4. What is the nature of the sanctions regime in Latvia?
The following international or national sanctions may be introduced or imposed in Latvia:
• financial restrictions • civil restrictions • restrictions on admission • restrictions on circulation of goods of strategic significance and other goods • restrictions on provision of tourism services
5. Does Latvia maintain a list of sanctioned individuals and entities?
Yes. The Financial Intelligence Unit of Latvia (FIU Latvia) maintains a consolidated list of sanctions. This list comprises of all individuals and entities that have been designated by the UN, the EU, Latvia and US OFAC sanctions. Please see: https://sankcijas.fid.gov.lv/.
6. Are there any other lists related to sanctions?
7. Does Latvia have a licensing or authorization system in place?
Yes. The Financial and Capital Market Commission of the Republic of Latvia is responsible for licensing exemptions to financial sanctions to the participants of the financial and capital market. Applications must be made for a to make funds, economic resources or financial services available to or for the benefit of a designated individual or entity. The Financial and Capital Market Commission may also issue general licences for the application of exemptions to financial sanctions, including a limit on the basic needs or the expenses specific to the basic economic activity.
The Committee for the Control of Strategic Goods of the Ministry of Foreign Affairs of the Republic of Latvia is responsible for licensing exemptions for exporting, importing and trading in certain goods (particularly strategic goods, software, technology and dual use goods) which are controlled as a result of sanctions.
8. What are the consequences for a breach of sanctions in Latvia?
The penalty for the violation of national or international sanctions – a maximum custodial sentence of 8 years, temporary deprivation of liberty, community service, or a fine – is determined pursuant to Section 84 of the Criminal Law of the Republic of Latvia.
9. Who are the relevant regulators in Latvia and what are their contact details?
With regard to financial restrictions Financial and Capital Market Commission Kungu iela 1, Riga, LV-1050, Latvia
T: (+371) 67 77 4800 F: (+371) 67 22 5755 E: email@example.com
With regard to travel restrictions Office of Citizenship and Migration Affairs Čiekurkalna 1.līnija 1 k-3, Riga, LV-1026, Latvia
T: (+371) 67 20 9400 E: firstname.lastname@example.org
With regard to restrictions on the provision of tourism services
Ministry of Economy Brīvības iela 55, Riga, LV-1519, Latvia T: (+371) 67 01 3100 E: email@example.com
With regard to as the co-ordinating institution for all sanction matters
Ministry of Foreign Affairs Krišjāņa Valdemāra iela 3, Riga, LV-1395, Latvia T: (+371) 67 01 6201 E: firstname.lastname@example.org
With regard to measures of control over export of strategic goods (arms embargo), namely, each transaction with strategic goods – military and dual use
Strategic Goods Export Control Division of the Ministry of Foreign Affairs Elizabetes iela 57 (5-th floor), Riga, LV-1050, Latvia T: (+371) 67 01 6430 E: email@example.com
With regard to circumvention or a circumvention attempt of financial restrictions
Financial Intelligence Unit of Latvia Raiņa bulvāris 15, Riga, LV-1050, Latvia T: (+371) 67 04 4430 E: firstname.lastname@example.org ________________________________________
With regard to financial and civil restrictions concerning the persons under supervision of the State Revenue Service
State Revenue Service Talejas iela 1, Riga, LV-1978, Latvia T: (+371) 67 12 0000 E: email@example.com
With regard to financial and civil restrictions concerning persons under the supervision of the Consumer Rights Protection Centre and engaged in lending and debt recovery services
Consumer Rights Protection Centre Brīvības iela 55, Riga, LV-1010, Latvia T: (+371) 68 80 6512 E: firstname.lastname@example.org
With regard to restrictions in the work of sworn advocates
Latvian Council of Sworn Advocates Elizabetes iela 63-1, Riga, LV-1050, Latvia T: (+371) 67 35 8487 E: email@example.com
With regard to restrictions in the work of sworn notaries
Council of Sworn Notaries of Latvia Krišjāņa Valdemāra iela 20 – 8, Riga, LV-1010, Latvia T: (+371) 24 20 2100 E: firstname.lastname@example.org
With regard to restrictions in the work of sworn auditors
Latvian Association of Sworn Auditors Pulkveža Brieža iela 15-7, Riga, LV-1010, Latvia T: (+371) 67 22 3338 E: email@example.com
With regard to restrictions in the work of lottery and gambling operators
Lotteries and Gambling Supervision Inspection Smilšu iela 1, Riga LV-1050, Latvia T: (+371) 67 50 4955 E: firstname.lastname@example.org
With regard to restrictions in relation to the transactions involving cultural monuments of State significance and persons operating in handling of art and antique articles
National Cultural Heritage Board Mazā Pils iela 19, Riga LV-1050, Latvia T: (+371) 28 90 8600 E: email@example.com
With regard to restrictions in the work of those capital companies which have received the licence of Latvijas Banka for the buying and selling of cash in a foreign currency
Latvijas Banka Krišjāņa Valdemara iela 2A, Riga, LV-1050, Latvia T: (+371) 67 02 2300 E: firstname.lastname@example.org
xWith regard to execution of civil sanctions concerning immovable property
Land Registry Office of a district (city) court
Please see the relevant contact details: https://www.zemesgramata.lv/saturs/lv/145-39-6
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