Thousands of Latvians Face Unemployment Due to Sanctions on Russia

World | April 14, 2014, Monday // 17:39| Views: | Comments: 2
  • Send to Kindle
Bulgaria: Thousands of Latvians Face Unemployment Due to Sanctions on Russia Latvian Parliament, photo by

Economic sanctions imposed on Russia over current crisis in Ukraine may trigger a wave of unemployment in Latvia, according to a top official.

Some 20 thousand Latvian residents may lose their jobs, State Secretary of the Latvian Ministry of Welfare Ieva Jaunzeme claimed, Monday.

According to her, Latvian state-run railway concern may face largest problems.

"The enterprise depends highly from co-operation with its eastern neighbor," she said, cited by Itar-Tass.

Employees in Latvian fish-processing industry, in particular the production of canned fish, will also be affected in case of sanctions against Russia and may also face unemployment.

"The majority has already drawn lessons from the 1995 crisis and when choosing business partners does not put all eggs in one basket," Jaunzeme added.

World » Be a reporter: Write and send your article
Tags: Latvia, unemployment, Russia, sanctions All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (2)
Warfou - 16 Apr 2014 // 13:18:17

No, Vladimir. Regarding the situation in Russia: inflation is rising, GDP growith has stopped and the reserves of the Russian national bank are being rapidly spent to support the exchange rate of the RUR. The import barriers imposed by the "Rospotrebnadzor" caused the prices for foodstuffs to grow by 20% within a couple of months. Crimea is waiting for the "rain of money" promised by Medvedev. Russian reputation, initially increased by Olympic Games worth USD 50 billions, has dropped dramatically. This is the outcome, so far.

Vladimir K. - 16 Apr 2014 // 12:29:49

Smart choice EU, see? It hurts not Russia, but only you and Americans ;)

Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria