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Friday 10.04.2020 | Name days: Anita, Anitra, Zīle
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Ventas Osta added to the regulations of Latvian Transport Ministry

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Ventas Osta, Transport Ministry, Latvia, regulations, shares, sanctions, Aivars Lembergs, OFACOn Tuesday, 11 February, Latvian government supported amendments to the Transport Ministry’s regulations that state the ministry will be a capital shareholder in Ventas Osta, the ministry reports.

On 18 December 2019 the Cabinet of Ministers issued an order on the foundation of Ventas Osta and decided that Transport Ministry would become this company’s shareholder. The ministry’s regulations have been expanded with information that the institution is now a state capital shareholder in Ventas Osta.

Latvia’s Transport Ministry is a shareholder in 14 companies: VSIA Road Transport Directorate, VAS Road Traffic Safety Directorate, VAS Latvian State Roads, VAS Latvian State Road Maintenance Company, VAS Riga International Airport, VAS Latvian Air Traffic, VAS Latvian Railway, VAS Maritime Administration of Latvia, VAS Latvian State Television and Radio Centre, VAS Latvian Post, AS Pasažieru vilciens, LLC Eiropas dzelzceļa līnijas, AS Air Baltic Corporation and AS Ventas osta.

On Monday, 9 December, US Department of Treasury Office for Foreign Asset Control (OFAC), based on the so-called Magnitsky law, established sanctions against the suspended mayor of Ventspils Aivars Lembergs and four legal persons associated with him – Ventspils Freeport authority, Ventspils Development Agency, Business Development Association and Latvian Transit Business Association.

Read also: Kariņš: Ventas osta to ensure professional and depoliticized port management

In response to Ventspils Freeport’s addition to the list of sanctions, Latvia’s Saeima amended laws to put both Riga Freeport and Ventspils Freeport under state management. On 17 December the government supported Transport Ministry’s proposal to create a new state company to manage Ventspils port’s territory and operations.

On 18 December, OFAC announced removal of sanctions from Ventspils Freeport and Ventspils Freeport authority.

Sanctions were removed from Ventspils Freeport after Aivars Lembergs stepped down from the freeport’s board and Latvian government executed measures to put an end to his influence over the court, according to the press-statement from the US Department of the Treasury.


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