Beautiful Virgin Islands

Tuesday, Jun 03, 2025

U.S. sanctions Latvian oligarch charged with corruption

U.S. sanctions Latvian oligarch charged with corruption

The United States on Monday sanctioned Aivars Lembergs, the suspended mayor of Latvia’s seaport city of Ventspils and an oligarch with substantial influence in the country’s politics, over alleged corruption, the U.S. Treasury said in a statement.
According to the Treasury’s Office of Foreign Assets Control (OFAC), Lembergs controls “entities through political parties and corrupt politicians, and systematically exploits those entities and individuals for his own economic gain”.

“This U.S. action underscores the U.S. commitment to Latvia and our determination to hold corrupt oligarchs accountable for their actions against a key European ally”, it said.

The U.S. Treasury is also sanctioning four other bodies – Ventspils Freeport Authority, Ventspils Development Agency, Business Development Association and Latvian Transit Business Association, which are either owned or controlled by Lembergs.

Reuters was unable to get an immediate comment from Lembergs.

The U.S. sanctions allow the government to seize any property or accounts he has in the United States and prohibits anyone in the United States from doing business with him.

Lembergs has been a mayor of Ventspils, the second largest port city in Latvia with an important role in the country’s transit industry, for more than 30 years. He was suspended by Latvian prosecutors and courts due to an ongoing investigation and charges of corruption and money laundering. Lembergs has denied any wrongdoing in that case.

He is linked with the former ruling coalition party The Union of Greens and Farmers, now an opposition party, and has business ties with Russia.

The U.S. sanctioning of Lembergs comes at a time when Washington is increasing pressure on Latvia to overhaul its banking system, once prized by the country as offering a financial bridge for Russians seeking to move money to the west.

ABLV, Latvia’s third-biggest lender, was closed last year after the U.S. authorities accused it of money laundering.

The Latvian Foreign Ministry also issued a warning Monday saying that any financial institution carrying out a transaction with Lembergs or the four entities risk being subjected to the U.S. sanctions too.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
×