Sanctions in Focus: Key Insights from UK and Latvian Experts

On Thursday, 29 May, BritCham Latvia, in cooperation with the Financial Intelligence Unit of Latvia and the British Embassy Riga, hosted a high-level seminar titled “Navigating Sanctions Compliance” at the FIU premises in Riga.

The event was opened and moderated by Gordon Latimir, Chairman of the Board of BritCham Latvia. Philip Barclay, Deputy Head of Mission at the British Embassy, delivered opening remarks, underscoring the importance of international collaboration in ensuring effective sanctions enforcement.

The seminar featured expert presentations by Rebekah Tabone, Regional Sanctions Attaché (Baltics), and Paulis Iļjenkovs, Deputy Head at FIU Latvia. Attendees received timely updates and practical insights on:

• Enforcement actions and recent prosecution trends

• UK sanctions developments and regulatory changes

• Legal clarity on exemptions (e.g., pharmaceuticals)

• Trade data and signs of potential circumvention

• Coordination among the UK, EU, and US on sanctions policy

A lively Q&A session followed the presentations, allowing participants to engage directly with the speakers on current challenges and compliance strategies.

BritCham Latvia is proud to facilitate this ongoing dialogue, helping businesses stay informed and prepared in a fast-evolving global sanctions environment.