The parliament in Latvia has approved a bill that will prevent citizens from Russia and Belarus from buying real estate within the nation.
Kyiv Independent reports the new bill also prevents entities that are least 25% owned by Russian or Belarusian nationals from making property purchases. Exceptions to the ban are being made for European Union and Latvian permanent residence holders, Belarusian refugees, and repatriates.
Latvia, which borders Russia, is the second European nation to enact a ban of this nature – earlier this year, Finland created a new law prohibiting property acquisition by Russian nationals. In September 2022, Latvia enacted entry restrictions on Russian citizens in a joint agreement with Estonia, Lithuania, and Poland.
