Latviski English По-русски
Sunday 24.06.2018 | Name days: Jānis

Russia calls to halt economic activities of companies from EU, USA and other countries

(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUAlthough Russia is nearing a full economic crisis, there are politicians in Moscow who are prepared to worsen the already critical situation. Three deputies of the Russian State Duma have submitted a draft to the parliament that defines so-called aggressor states and measures that should be taken in order to defend Russia’s economy and market.

Authors of this initiative believe aggressor states are the ones that have introduced sanctions against Russia – Europe, USA and others. Russian parliamentarians with to deny companies and people from these countries the right to work in Russia, according to Nekā personīga programme of TV3.

Deputy of the ruling party United Russia Yevgeny Fedorov is a passionate supporter of Vladimir Putin. He often attends local media programmes and actively encourages Russian residents to stand against the west. Fedorov believes Russia has lost its sovereignty since the beginning of the ‘90s and has since been a colony of USA. American advisers, according to him, have completely overwritten Russia’s constitution. This is why it should be changed.

«What is the function of the American ambassador? He sits and puts cookies in front of his people, fills in tables and confirms which tasks have been completed. He receives reports for Russian ministers regarding preparations for Maidan. This is his function! This is his specialty. They [Americans] work in order for there to be a crisis [in Russia],» – believes Fedorov.

He and three of his associates had submitted a new draft to the State Duma at the beginning of December. Its goal is to protect Russia’s national economy and internal market from aggressor states. This is about Europe, USA and other countries that have introduced sanctions against people close to Putin and a number of different major Russian companies. Russian parliamentarians want to make sure companies registered in European countries and their citizens are denied to work in Russia.

The politician wants to turn against specific international companies present in Russia. He is serious the most about foreign auditor and consultancy companies, which have basically monopolized the Russian business. Authors of the initiative are concerned that these companies are too in-depth in the Russian economy and perform audits at strategically important companies.

Authors of the draft also believe foreign auditors work in the interest of their governments. This is why they are able to compile audit results of Russian companies in order to damage Russia’s interests.

This initiative has caused uproar from Putin’s enemies not only in Russia. Among them are the Institute of Modern Russia – an NGO based in New York. It warns that this law can cause catastrophic consequences for Russia’s economy. This means that if foreign companies leave the Russian market, even more foreign investors could turn away from Russia.
Editor of The Insider Roman Dobrohotov says the left-wind Fedorov does not have an authority among the Russian political elite. «I am completely certain that this draft has no chances to get through the parliament. At the same time, however, there may be restrictions in terms of finances. Our [the President’s] administration and parliaments will try to introduce some measures in order to improve the situation after the decline of our national currency,» – he comments.

Researcher of the Eastern European Political Research Centre Maris Cepuritis says calling the EU, USA and other countries aggressors is nothing new. «The use of the term aggressor is aimed to demonstrate that Russia is constantly in danger; that there is a constant risk of attack from outside and that Russia stands in defence. This is planned for internal consumption in order to mobilize society against some mystical and invented enemy,» – says Cepuritis.

If this draft is approved and comes into force, the Russian government will be authorized to limit economic activities of any foreign business present in the country.


Leave a reply

  1. Linda says:

    Does that mean if “foreigners” in Russia have to leave their workplaces etc the Russian citizens residing in Europe and the other states opposed to Russian aggression will be leaving their residences; workplaces, and so on. More vacancies for host nation citizens then! And lower house purchase prices. Happy New Year Russian citizens.

Week in Lithuania. Parliament makes first step towards disclosing ex-KGB agents

The Seimas of Lithuania on Thursday, June 21, backed an initiative by the opposition Electoral Action of Poles in Lithuania – Christian Families Alliance to disclose now classified information on former agents of the Soviet KGB who voluntarily admitted their collaboration.

BNN summary of the week: CPCB visit to Saeima; ministers survive no-confidence votes; DTV case ends with mild penalties

BNN offers a summary of this week’s topical news in a variety of categories: Ruling; Future; Trust; Measures; Calendar.

SRS uncovers numerous violations more than half of inspected companies

State Revenue Service’s Tax Control Office performed a total of 305 thematic inspections of employers in Latvia in Q1 2018. Authorities recorded violations in 171 inspections, according to information from SRS.

Third level pension plan deposit volumes reach new record value

Residents’ interest for pension savings remains high. The volume of deposits made to private pension funds in the first three months of 2018 has reached a new historic peak: a total of EUR 16.5 million has been paid to 3rd level pension accounts, which is 11.6% more when compared to the same period of 2017, as reported by Finance and Capital Market Commission.

Petrol station network in Latvia caught performing fraudulent activities with diesel fuel

State Revenue Service’s Tax and Customs Police have uncovered and put an end to a fraudulent scheme with diesel fuel performed by some network of petrol stations in Latvia, as confirmed by the service.

Kaimiņš: I believe CPCB is performing a political order

In the evening of Thursday, 21 June, Corruption Prevention and Combating Bureau released three people previously detained as part of a criminal process regarding possible illegal funding of KPV LV party – Saeima deputy Artuss Kaimiņš, his colleague Atis Zakatistovs, and businessman Viesturs Tamužs.

Latvia’s parliament conceptually supports new sanction regulations

On Thursday, 21 June, Saeima supported in the final reading amendments to the Law on International Sanctions and National Sanctions of the Republic of Latvia that are meant to improve sanction regime regulations to ensure efficient application of national and international sanctions, as reported by Saeima press-service.

Storm in Tallinn floods streets, cuts Croatia-Argentina match short on TV

A rain storm has hit northern Estonia on Thursday, flooding some streets in the capital Tallinn, damaged buildings and badly affected the broadcast of an interesting World Cup game.

American banks tested for financial stress show positive results

The U.S. has performed banking stress tests and found that the 35 largest banks operating in the country have enough funds on hand to sail safely through a severe financial crisis.

Saeima fires judge for coming to work in a drunken state

On Thursday, 21 June, Latvia’s parliament supported the proposal to dismiss Rezekne Court judge Arvis Garais from his post. 71 deputies voted in favour, no one abstained and no one voted against.

UK to have three requirements to EU citizens willing to remain in UK

For citizens of the European Union willing to continue living in the UK after the country leaves the bloc, they will have to submit applications and answer three key questions over the internet, according to the country's interior minister.

Weather in Latvia to be rainy and cool during Ligo; next week’s weather to be dry and hot

Weather at the end of the week in Latvia will be dictated by a cyclone. Because of that, there will be instances of rain on Ligo. Weather is expected to improve next week, however, according to Latvia’s State Environment, Geology and Meteorology Centre.

Lithuania’s blood plasma corruption scandal extends to Latvia

The former head of Lithuania‘s National Blood Centre, suspected of corruption and involvement in unlicenced activity, received more bad news this week from Latvia, where investigators of the Lithuanian Special Investigation Service had questioned the Latvian Health minister, Anda Čakša.

Administrative burden to be reduced for foreign students and researchers

The administrative burden will be reduced for foreign students and researchers, as well as all education and research institutions hosting them. This is provided by the amendments to the Immigration Law approved by the Saeima in the third reading on Thursday, 21 June.

Latvian Economy Minister endures no-confidence vote

Saeima declined opposition deputies’ request for dismissal of Economy Minister Arvils Ašeradens.

Swedbank economist becomes new member of Bank of Latvia Council

On Thursday, 21 June, Latvia’s Saeima approved Mārtiņš Kazāks in his new post as member of Bank of Latvia Council, as confirmed by Saeima’s press-service.

Pope Francis’ visit to Latvia will be a national holiday

Latvia’s parliament has approved in the final reading a law that makes 24 September – the day Pope Francis plans to visit Latvia – a national holiday.

ICT specialist numbers in Latvia are below Europe’s average level

In Latvia, information and communication technology specialists form only 2.2% of all employed people in the country, which is considerably below the average level in the European Union – 3.7%. Romania and Greece are the only two EU member states in which the number of ICT specialists is below Latvia’s, according to European Commission’s DESI index.

Hungary adopts prison sentence for helping migrants

Hungarian National Assembly has passed a set of laws criminalising with prison terms some help provided to illegal immigrants by non-governmental organisations.

Harmony plans turning to Constitutional Court to prevent transition to Latvian language in schools

«Why should this reform stay unrealized? It is because schools are not prepared for cardinal changes coming from dozens of other reforms that have already shocked the country’s entire general education system,» says chairman of National Minority School Parents Forum and member of Harmony’s work group in Konstantīns Čekušins.

Deputies detained in KPV LV criminal case not declared suspects yet

Saeima deputy Artuss Kaimiņš and businessman Viesturs Tamužs detained in the criminal process regarding possibly illegal funding of KPV LV party have not yet been declared suspects. Both are currently in police custody. It is likely Kaimiņš will be released later today, 21 June.

Production of mines and grenades planned in Estonia

As the Estonian parliament has adopted new rules on military arms and ammunition production in the country, local defence firm Eesti Arsenal has voiced its plan to build a factory in Estonia to make military explosives.

Total tax debts in Latvia reached EUR 1.224 billion in June

At the beginning of June, total tax debts in Latvia, including topical, halted debts and extended repayment terms were equal to EUR 1.233 billion, which is 0.6% less compared to May, as reported by State Revenue Service.

Switch off internet nationwide during exams – Algerian approach

In an attempt to prevent cheating during secondary school exams, the north African nation Algeria, has turned off internet in its whole territory.

Control Service proposes kicking out shell companies as intensely as offshore companies

Shell companies in Latvia should be combated with the same intensity once shown to offshore companies, says chief of Anti-Money Laundering Service Ilze Znotiņa.

Newest comments