Latvia plans to completely halt trade with Russia
Latvian Prime Minister Andris Kulbergs has instructed officials to develop a plan for the gradual phasing out of exports and imports with Russia, although exceptions may be made in certain sectors. The government emphasizes, however, that a complete severing of economic ties must be coordinated with the European Union.
The government also acknowledges that some sectors, particularly the pharmaceutical industry, cannot quickly pivot due to complex production and certification processes.
The Latvian government is considering a gradual but systematic cessation of trade relations with Russia, tasking the Ministry of Foreign Affairs with preparing appropriate mechanisms to reduce or completely halt exports and imports between the countries.
Prime Minister Andris Kulbergs made this statement after a cabinet meeting, emphasizing that he considers economic ties with Russia undesirable and harmful. “This is an unnecessary dependency that only worsens the situation,” Kulbergs noted, emphasizing that the policy of reducing trade is a matter of principle for Latvia.
At the same time, he acknowledged that the process cannot be abrupt or instantaneous, as Latvia is part of the European Union’s common market, and all decisions must be coordinated with partners.
Separately, the prime minister drew attention to the pharmaceutical industry, which, in his words, is unable to quickly shift its markets due to lengthy certification procedures and the complexity of production processes, creating objective constraints on an immediate severing of ties. “I know they have a plan; they are reducing volumes, but this cannot be done in a single day,” said Kulbergs, adding that some production capacity in critical sectors may even be maintained for national security reasons.
According to official data, Latvia continued trading with Russia in the first months of the year: exports amounted to over 244 million euros, and imports to more than 10 million, which continues to push the government toward seeking tougher economic measures. This was reported by Delfi.
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