Update on US sanctions affect the port of Ventspils, Latvia

Further to our members alert of 12 December the Club’s correspondents Pandi Balt has provided the following update:

Please see below an update regarding the situation in the Freeport of Ventspils.

"Yesterday (18.12.2019) the amendments to the Law on Ports, which contemplate taking over of management in the Freeport of Ventspils by the State JSC Ventas osta, were approved by the Saeima (local legislative body). The amendments will come into effect after an official proclamation by the Latvian President.

On the same day the Freeport of Ventspils Authority was removed from the OFAC sanctions list.

Currently the port is open for all ships and we expect that the situation in the Ventspils port will be finally stabilized in the near future."

Press Release: Treasury Removes Sanctions on Latvia’s Ventspils Freeport Authority » (US Dept. of Treasury 18 Dec. 2019)

Member Alert: US sanctions affect the port of Ventspils, Latvia » (12 Dec. 2019)

Member Alert is published by The Swedish Club as a service to members. While the information is believed correct, the Club cannot assume responsibility for completeness or accuracy.