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International Internet Magazine. Baltic States news & analytics Tuesday, 16.07.2019, 13:34

TransMin: economic sanctions against Russia will also affect Latvia

BC, Riga, 10.03.2014.Print version
If economic sanctions are imposed against Russia over its invasion in Ukraine, they will also affect Latvia since around 60% of cargo handled by Latvian ports comes from Russia, Transport Minister Anrijs Matiss (Unity) says in an interview with newspaper Biznes&Baltija, cites LETA.

"It is not only about cargo, it is also about people. Railroad company Latvijas Dzelzcels employs 10,000 people, the entire transport sector – 50,000 to 60,000 people. Including domestic transportation, the transport sector constitutes 12% of Latvia's GDP," explains the minister.


Without cargo, people will lose jobs and there will be a huge social problem, points out Matiss. He believes that sanctions against Russia are "highly undesirable".


As reported, the European Union has suspended bilateral talks with the Russian Federation on visa matters as well as talks with the Russian Federation on the New Agreement.


European Council President Herman Van Rompuy points out that the solution to the crisis should be found through negotiations between the governments of Ukraine and the Russian Federation, including through potential multilateral mechanisms. The EU emphasizes that such negotiations need to start within the next few days and produce results within a limited timeframe. In the absence of such results the EU will decide on additional measures, such as travel bans, asset freezes and the cancellation of the EU-Russia summit.

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