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Dienas Bizness - Latvia | Sunday, August 3, 2014

Sanctions against Russia bad for Latvia

The EU sanctions against Russia and Russia's counter-sanctions will mean heavy losses for Latvia's export trade, the business daily Dienas bizness estimates, and hopes that Latvia's politicians will push for exceptions to the sanctions: "Foreign investors choose Latvia and its businesses for two reasons: Western investors see it as a point of access to the Russian market and Russian investors see it as a path to Europe. ... In this respect the statements of Latvia's foreign minister to the effect that the sanctions won't affect the Latvian economy sound like a fairytale. The main task of the Latvian politicians now is not to pay too much heed to the major powers and instead focus on compensation for the economy. Exceptions are possible, as France's intention of supplying Russia with a Mistral helicopter carrier in the autumn confirms."

» To the complete press review of Monday, August 4, 2014

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