Does Latvia implement an autonomous sanctions regime?
What is the nature of the sanctions regime in Latvia?
Sanctions are implemented in Latvia by regulatory enactments of the EU or the Regulations of the Cabinet of Ministers of the Republic of Latvia. The sanctions stem from UN or EU sanctions.
Does Latvia maintain a list of sanctioned individuals and entities?
Are there any other lists related to sanctions?
Does Latvia have a licensing or authorisation system in place?
Yes. The licensing agency is the Committee for the Control of Strategic Goods of the Ministry of Foreign Affairs of the Republic of Latvia. The duties of the Committee for the Control of Strategic Goods include:
accepting applications for export, import, transit and transfer licences and other certification and acceptance documents indicated in the Law On the Circulation of Goods of Strategic Significance and subsequent regulations of Cabinet of Ministers
issuing of licences, end-use certificates, import certificates and delivery verifications
providing information on compliance of goods with the EU Common Military List, National List of Goods and Services of Strategic Significance and other lists of controlled goods
monitoring the manufacture, storage, use and trade of strategic goods
developing and maintaining databases of documents, people, entities and items related to military and dual-use goods and their circulation
What are the consequences for a breach of sanctions in Latvia?
There is criminal liability for breach of sanctions in Latvia pursuant to Article 84 of the Criminal law. The penalties are prison sentences of up to five years or community service, or a fine. If such criminal offence has been committed by a group of persons according to a prior agreement or if it has been committed by a public official, the applicable punishment is deprivation of liberty for a period up to eight years.
Who are the relevant regulators in Latvia and what are their contact details?
With regard to financial restrictions
The Financial and Capital Market Commission
Kungu Street 1
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