Latvia to transfer funds from Russian assets, mainly Moscow House, to aid Ukraine

Edgars Rinkēvičs, President of Latvia, has announced that funds raised from the so-called Moscow House in Riga and other Russian assets will be used as aid for Ukraine.

Source: Rinkēvičs during the visit of Ukrainian President Volodymyr Zelenskyy to Riga, as reported by European Pravda with reference to Ukrinform

Details: Rinkēvičs informed Zelenskyy that the Latvian Saeima (parliament) had adopted a law on the nationalisation of Moscow House and the transfer of all necessary funds in favour of Ukraine.

Quote: "Other Russian assets will also be used to help Ukraine. We will decide how to do this."

More details: Latvian MPs approved the confiscation of Moscow House yesterday on the grounds that political events that posed a threat to national security were held there, disguised as cultural and educational events.

On 21 and 22 December 2023 the State Security Service of Latvia conducted criminal procedural actions at Moscow House "in connection with a possible violation of EU sanctions against Russia".

Rinkēvičs also stressed that Latvia will continue supplying Ukraine with aid both as a state and as a society, remarking that the amount of aid already provided has exceeded 1% of Latvia’s GDP.

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