Latvia legislates ban on electricity trade with Russia

Latvian Saeima has backed amendments to the law on the electricity market, which provides for a ban on electricity trading with Russia and Belarus. 

The amendments also include a ban on the supply of electricity for trade using the energy systems of Russia and Belarus, Interfax reports.

The bill was drafted in line with international sanctions preventing further financial cooperation with a number of companies registered in Russia.

In order to ensure the security, balance, and stability of electricity supply in the Latvian transmission system until synchronisation with the European power grids, the transmission system operator will be allowed to exchange balancing electricity with the Russian transmission system operator or trader from Russia without making financial settlements.

At the same time, the system operator will have to ensure that the amount of balancing electricity received from Russia does not exceed the amount of balancing electricity transferred to it.

Earlier, at a meeting of the parliamentary commission for national economy, agrarian and regional policy, representatives of the Ministry of Energy said that in fact there is no electricity trade with Russia and Belarus based on the decision of the Latvian government of October 11 last year.