The contiuing need for a firm stance on sanctions against Russia was stressed by Latvian Minister of Foreign Affairs Baiba Braže April 9 at the 15th meeting of the Sanctions Coordination Council in Rīga.
Sanctions are working despite Russian efforts to deny this is the case, which is demonstrated by the regularity with which “in all talks with the United States, Russia pushes for sanctions relief,” according to a release from the Ministry.
Braže urged members of the Sanctions Coordination Council to offer proposals for new sanctions and “explaining to business people that cooperation with Russia is impossible,” the Ministry said.
The Deputy Head for Sanctions at the Financial Intelligence Unit of Latvia, Paulis Iļjenkovs, outlined key issues and conclusions in the field of sanctions enforcement over the year since the FIU has become the competent authority in sanctions enforcement.
For their part, Senior Expert for Compliance of the Compliance Division of the Anti-Money-Laundering Department at the Bank of Latvia, Artis Aizupietis, and Senior Economist of the Macroeconomic Analysis Division at the Monetary Policy Department, Matīss Mirošņikovs, informed the Council about changes to the goods and financial flows.
The Sanctions Coordination Council is a consultative body established by the Latvian Cabinet with the aim of coordinating the functioning of supervisory institutions responsible for the enforcement of international sanctions and national sanctions of the Republic of Latvia. The Sanctions Coordination Council is chaired by a representative from the Ministry of Foreign Affairs.
The Council membership comprises more than 30 public and private sector institutions.
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