Minister: Russia may supply 1,000 MC-21 planes to 2037Business & Economy May 28, 14:42
Lavrov: China, ASEAN interested in organization of Eurasian partnershipRussian Politics & Diplomacy May 28, 11:45
MC-21 airliner makes first test flight - sourceBusiness & Economy May 28, 11:00
Putin sends greeting to Border Guard on their professional holidayMilitary & Defense May 28, 10:57
Ukrianian court puts on hold lawsuit against ban on Russian social networksWorld May 28, 6:10
Russia’s Lasitskene wins high jump in Diamond League event in Eugene, USSport May 28, 4:59
Havana Airport gets Russian-made air traffic control systemsWorld May 28, 4:16
Guests of FIFA 2018 World Cup sure to get warm welcome in Russia — LavrovSport May 28, 2:25
Kantemir Balagov’s "Closeness" gets Cannes Festival’s International Critics’ PrizeSociety & Culture May 28, 1:03
“The EU sanctions have no direct influence on the Latvian economy”, whereas Russia’s sanctions, if focused on Latvia, would deliver a blow to “the small country closely connected to Russia economically”, he said in an interview to Latvian TV.
According to Dombrovsky, potential damage in that case would be less than during the sharp 2009 economic crisis, when the country’s gross domestic product contracted 18%.“Even if we close the border with Russia, the country won’t see a similar GDP fall”, but the effect would also be serious, he added, estimating it at about 10% of GDP.
Food industry was one of the most vulnerable sectors accounting for half of Latvian export and easily affected by phytosanitary restrictions, Dombrovsky said. Transit was also prone to sanctions, he added, where unplanned maintenance works on railways going to the Latvian sea ports and other measures were possible.
Latvian Prime Minister Laimdota Straujuma has recently said the EU anti-Russian sanctions would not affect the Latvian economy as at its stage no transit and exports were in question, which was positive for Latvian entrepreneurs.
Neither does Foreign Minister Edgar Rinkevics expect any adverse effects as Russia had always influenced trade volumes without sanctions. Without third level of sanctions and attempts to stop violence in Ukraine worse problems could emerge, he added.