On 26 November 2020, the State Secretary of the Ministry of Foreign Affairs, Andris Pelšs, delivered opening remarks at the international conference, “How to improve effectiveness in sanctions implementation? Risk-Based Approach vs. Rules-Based approach”, organised by the Financial Intelligence Unit of Latvia (FIU Latvia). The event was held via videoconferencing with participation of representatives from the European Commission and the United States of America.
In his remarks to the participants, the State Secretary highlighted Latvia’s achievements in promoting the effectiveness of the application and implementation of sanctions, which are the result of successful inter-sectoral cooperation. Andris Pelšs informed the participants that on 29 September, the Latvian Government approved a new “Action Plan for Prevention of Money Laundering and Terrorist and Proliferation Financing for the time period from 2020 until 2020”, which is yet another proof of Latvia’s intention to continue the successful work on the strengthening of sanction implementation and prevention of money laundering.At the same time, the State Secretary pointed to the present-day and future challenges in the field of sanctions implementation. Human rights violations and other developments in Belarus, Ukraine, Syria, Venezuela, as well as the use of chemical weapons by Russia clearly demonstrate that implementation of sanctions is and will be an issue of high importance at both the national and international level.
At the end of his speech, the State Secretary called for an even closer cooperation between institutions and sectors.
For further information on sanctions, please visit the Sanctions section of the MFA website. To regularly receive information on latest developments related to sanctions, sign up for updates by sending a request to the e-mail address: sankcijas@mfa.gov.lv .