The future of sanctions against Russia: a conference in Latvia
Latvia hosted the conference “Guarding the Gates: Sanctions, Export Controls and Business Responsibility”, organized by the Financial Intelligence Unit (FIU Latvia). More than 120 people attended the conference from over 20 countries, including experts from the EU, UK, USA and Canada.
Proposals for the most severe sanctions against Russia were announced at the conference by Latvian Foreign Minister Baiba Braže.
“Together with the Allies, we must continue mutually harmonise the restrictive measures against Russia’s energy sector and financial institutions, as well as working on the alignment of sanctions against Russia and Belarus. Sanctions must also target subjects in third countries who help circumvent sanctions and support aggression. We will keep the sanctions focused on Russian energy exports, the shadow fleet and its supporters until the aggression stops,” she said.
“The Sanctions have already deprived Russia of the opportunity to earn approximately 100 billion euros in the energy sector. We must also be able to influence other countries that have not imposed sanctions against Russia and consider additional global-level measures,” said Benjamin Hilgenstock, head of Macroeconomic Research and Strategy at the Kyiv School of Economics.
A recording of the conference in English is available on YouTube:
