Analytics, Baltic States – CIS, Estonia, Latvia, Legislation, Markets and Companies, Port, Transport

Economy ministry stated that although Russia is Estonia's third largest trade partner, nearly a half of the goods going to Russia is re-export not local production.

"The influence to the Estonian economy would most likely be felt via other states and export partners, on whose economy, Russia has a bigger influence," said the ministry's PR adviser Gea Otsa.

Eesti Raudtee (Estonian Railways) Board Chairman Ahti Asmann said that sanctions would directly affect transit and logistics, which contribute to the Estonian state budget nearly EUR 800 million a year, i.e. nearly a tenth of the budget. Asmann said that last year, the budget of Eesti Raudtee depended in 72% part on the transit to the East.

Tallinna Sadam (Port of Tallinn) estimates that Russia's tougher sanctions would reduce their cargo volumes.

"Undoubtedly Russia's potential sanctions can affect our company since a major part of cargo moving via ports of Tallinna Sadam comes from Russia or goes there," explained the port's Marketing and Communications Department Head Sirle Arro.

At the same time in Latvia, Social Ministry Chancellor Ieva Jaunzeme forecast that the new and tougher anti-Russian sanctions will take up to 20,000 jobs from the state. They will affect the state-owned company Latvian Railways most, as it depends on cooperation with Russia, reported the Latvian Delfi.