Title for Episode VIII of world’s famous saga ‘Star Wars’ revealedSociety & Culture January 23, 21:19
Russia’s chief negotiator: Astana format gives hope for new level in negotiating processRussian Politics & Diplomacy January 23, 20:52
Astana talks focusing on mechanism of Syria ceasefire observance — oppositionWorld January 23, 20:23
Russia and Turkey hit Islamic State targets near al-Bab in Aleppo provinceWorld January 23, 20:06
Russia’s 4th Yasen-class submarine completes hydraulic testsMilitary & Defense January 23, 18:56
Arctic airport in search for investorsBusiness & Economy January 23, 18:50
Rosneft begins Arctic shelf’s seismological exploration from 2017Business & Economy January 23, 18:38
Tesla takes the lead in sales of electric cars in Russia in 2016Business & Economy January 23, 18:18
Politician says European-style reforms to degrade Ukraine’s economyWorld January 23, 18:16
“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.