Russian entrepreneurs Iskander Makhmudov and Andrei Bokarev continue to do business in Latvia despite EU sanctions, according to a report. The men are said to act as outfitters for the Russian Navy and also maintain good contacts with the leadership in the Kremlin.
Despite the sanctions imposed by the EU on Russia's elite, two billionaires believed to be close to the Kremlin continue to do good business in Latvia, according to a media report. "The companies in Riga control them both personally and through straw men," reports the independent Internet portal The Insider. According to the report, it is about the billionaires Iskander Makhmudov and Andrei Bokarev, who, among other things, equip the Russian army.
In Latvia, the two own, among other things, the mechanical engineering factory in Riga (Rigas elektromasinbuves rupnica - RER for short), which manufactures electronic systems for trains, subway cars and local public transport and receives EU subsidies. In Russia, on the other hand, they are partners in large coal and industrial companies such as UGMK or Transmaschholding.
Until 2017, Bokarev and Makhmudov also owned shares in the Kalashnikov defense company. According to The Insider, they continue to equip Russian warships with diesel engines to this day. Because of their good relations with the Kremlin, both oligarchs were put on the sanctions list by Britain. But "the Latvian authorities see no threat to national security in Bokarev and Makhmudov," writes The Insider.
In Riga, the independent Russian television station Doschd, which had made a name for itself through open criticism of the Kremlin and Russia's war against Ukraine, had its broadcasting license revoked for its reporting on the Ukraine war. The reason for this was a post about people who were forced to mobilize at the front, in which the moderator gave the impression that he was collecting aid for Russian soldiers. The media regulator rated this as a "threat to national security".
