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According to the estimates of the employees of the ministry of economics of Latvia, this country will have the most difficulties from an economic point of view, after the imposition of sanctions on Russia. This was recently stated by the minister of economics of Latvia, Vyacheslav Dombrovsky.
The sanctions that the European Union plans to impose on Russia, because of its foreign policy towards Ukraine, may have serious consequences for the Latvian agriculture, energy industry of the country and the industry engaged in transit traffics. This forecast was attributed to the fact that Russia is a serious economic partner of Latvia, standing in second place, taking into account the volume of exports. 43% of exports of food and agricultural products to Latvia and 70% of transits occur to the Russian Federation. Talking about energy, the fears of Vyacheslav Dombrovsky are not unfounded: Russia is the main supplier of gas to Latvia.
The experts of the ministry do not consider their projections exaggerated. If we compare the foreign economic relations of Latvia and other Eurozone countries with Russia, it becomes clear that the relationship of the Latvian and Russian entrepreneurs have the highest share in the economy of the European Union and the Russian Federation.