Companies at Latvia Ventspils port can continue operations for 30 days - Latvian financial watchdog

Companies at Latvia's Ventspils port can continue operations for 30 days despite U.S. sanctions against Ventspils mayor Aivars Lembergs, the Latvian financial watchdog said on Thursday. "We are communicating with the financial sector more now, but if there are companies working at the Ventspils freeport, they have 30 days to continue their operations, there are no changes now," said Santa Purgaile, head of the Latvian banking watchdog at a news conference.

Latvian politician and oligarch Lembergs and four entities that he owns or controls were slapped with a U.S. sanction earlier this week. The entities are connected to the port of Ventspils and the Latvian government has declared its intention to take control of the port to ensure it can remain operational.