News: Sanctions Update - Ventspils Freeport Authority removed from US sanctions list
19 December 2019
On 9 December 2019 the US Treasury Department of Foreign Assets Control (OFAC) announced the designation of several entities, including the Ventspils Freeport Authority, to the Specially Designated Nationals sanctions list, as explained in our earlier web alert which is available here: /risk-management/knowledge-centre/news-and-commentary/2019/12/news-us-sanctions-freeport-authority-of-ventspils-latvia.aspx.
On 17 December US OFAC removed the sanctions imposed on the Ventspils Freeport Authority (which was listed for being owned/controlled by Aivars Lembergs) after the Latvian Government passed legislation which ended Mr Lembergs' control of the port and placed it under government supervision.
For further information, please see the attached link to the press release from the US Treasury Department confirming the removal of Ventspils Freeport Authority from the US Sanctions list - https://home.treasury.gov/news/press-releases/sm860