Latvia's Saeima Tightens Property Rules to Counter Russia's Hybrid War
The Saeima is set to introduce new restrictions on property acquisition in Latvia, aiming to counter Russia's hybrid war against democratic states. The law, proposed by Irina Rozova and Ariana Solovei, requires two more readings to become effective.
The draft law targets legal entities where Russian or Belarusian citizens own at least 25% of shares or are ultimate beneficial owners. It also plans to ban real estate purchases by entities registered in Russia or Belarus. Potential sellers must assess buyers' eligibility based on the law's criteria. Ignorance of the law will not exempt parties from compliance.
The Saeima's move comes in response to Russia's use of indirect real estate acquisition abroad as a means of influence and justification for military actions. The law is part of the country's broader effort to counter Russia's aggression against Ukraine.
The Saeima's new property acquisition restrictions, once passed, will significantly impact real estate transactions involving Russian and Belarusian citizens and entities. The law aims to strengthen Latvia's national security and align with the country's stance on Ukraine.
Read also:
- Trade Disputes Escalate: Trump Imposes Tariffs, India Retaliates; threatened boycott ranges from McDonald's, Coca-Cola to iPhones
- Nepal's Journey: Evolution from Street Life to Political Power
- Hegseth & Trump Spark Controversy With Military Reforms, Diversity Criticism
- Trump presents fresh strategy for Russian energy, according to Von der Leyen
