Freeport of Riga Authority says recent OFAC decisions in no way affect port operations
“The Port of Riga operates as normal, moreover - we still have an extra capacity and resources to ensure handling of any additional cargo, if necessary,” informs Mr.Ansis Zeltins, the Freeport of Riga CEO.
With the aim to address the questions of our international partners regarding further operation of the Port of Riga, the Freeport of Riga Authority confirms that the adopted amendments to the Law on Ports will not affect the strategic goals of the Port of Riga, its operational sustainability and business processes of the port.
The Freeport of Riga Authority confirms, that the recent decisions, adopted by the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury, including sanctions against the Freeport of Ventspils Authority, in no way affect the operation of the Port of Riga.
Last week, the Parliament of the Republic of Latvia adopted amendments to the Law on Ports, changing the composition of the Board of Freeport of Riga Authority and reducing the number of the Board members from 8 to 4 representatives from the government.
Mr.Talis Linkaits, the Minister of Transport: “This is a significant step towards improving port governance in Latvia, increasing the transparency and attractiveness of port operations for investors and international partners. At the same time, the government has launched a comprehensive port reform”.
The Freeport of Riga is the largest port in Latvia. Its cargo turnover is expected to reach 32.5 million tons in 2019. The Freeport of Riga is a multifunctional port with modern and secure infrastructure. About 200 private companies, including 35 stevedoring companies (cargo handling terminals), operate at the port, providing services of high quality. Since 2009 the Freeport of Riga has been NATO's strategic partner in logistics.
The Freeport of Riga Authority (FPRA) manages the port, and is responsible for the port infrastructure maintenance, the port security, as well as for leasing out of the land and infrastructure to terminal operators. The FPRA is an executive body that implements the decisions of the Freeport of Riga Board on the port development. The FPRA is not engaged in commercial activities at the port. Its revenues include port dues from the vessels served, as well as the port land and berth rental fees. The FPRA operates on a non-profit basis - the financial resources at its disposal are used solely for the port management and development.
