The amount of funds frozen in Latvian financial institutions

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In the context of sanctions imposed on Russia and Belarus by the European Union, approximately EUR 54,5 million have been frozen in Latvian financial institutions by the end of business day 24 June according to data compiled by the Financial and Capital Market Commission this week.

So far, six natural persons directly subject to sanctions have been identified in Latvian banks, as well as 33 legal entities who are not directly included in the sanctions lists, but ownership or control of the sanctioned persons has been identified, consequently, the funds and securities of those entities have been frozen.

The amount of frozen funds is likely to grow in the future in view of due diligence that is still ongoing, transactions in accounts of individual high-risk customers have been temporarily suspended and new sanctions are being imposed.

Updated: 29.06.2022

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