Latvia's parliament has prohibited Russian and Belarusian citizens from purchasing real estate in the country, passing the legislation in its final third reading on 19 June.
The ban extends to companies with more than 25 % ownership by citizens of these countries, according to Latvian Public Media. The law includes specific exemptions for inheritance from relatives and allows permanent residents of Latvia to buy a single dwelling for personal use. Previously completed transactions remain unaffected by the new restrictions.
Parliament classified real estate deals with Russian and Belarusian citizens as threats to national security. The legislation states that property purchases in other countries constitute "one of the instruments of non-military influence and elements of hybrid warfare." The law also asserts that the presence of Russian citizens has been used by Moscow as a pretext for initiating wars.
The measure represents Latvia's latest step in restricting economic ties with Russia and Belarus amid ongoing regional tensions. The legislation specifically targets individual ownership while preserving certain humanitarian considerations through its inheritance and permanent residency provisions.
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