Latvian PM to order search for mechanism to end trade with Russia
Kyiv • UNN
The Prime Minister of Latvia has instructed the Ministry of Foreign Affairs to develop a plan to halt exports and imports with the Russian Federation. Exceptions may be possible for pharmaceuticals following the coordination of decisions with the European Union.
Latvian Prime Minister Andris Kulbergs will instruct Foreign Minister Baiba Braže to prepare a decision on terminating the export and import of goods with Russia. The head of government stated this after a Cabinet meeting, as reported by Delfi and UNN.
Details
Kulbergs emphasized that he opposes maintaining economic ties with the Russian Federation.
"This is an unnecessary dependency that only worsens the situation,"
At the same time, the Prime Minister noted that exceptions for certain industries are possible, and any decisions must be coordinated with the European Union, of which Latvia is a member.
According to Kulbergs, the pharmaceutical industry requires special attention. He explained that companies cannot quickly pivot to other markets due to lengthy product certification procedures.
"I know they have a plan, they are reducing volumes, but this cannot be done in a single day,"
The head of government also noted that pharmaceutical companies possess important production capacities and specialized knowledge that could be useful for the country's defense sector. According to Latvian statistics, in the first quarter of 2024, Latvia exported goods worth 244.15 million euros to Russia and imported goods worth 10.51 million euros.