“If a Latvian company in Russia wanted to receive dividends, pay out from its business in Russia to Latvia, they cannot do that. [Krievijas vadonis Vladimirs] Putin has passed two decrees, which say: if you want to receive dividends, it is not about state companies or companies that, God forbid, are at war against them, it would probably not be possible at all. Only then can you open an account in a Russian bank, receive dividends in rubles and, of course, spend money only in Russia. Namely, the Russians have defined their national interests perfectly, that no money that can be used against them will go abroad. On the other hand, the naive Latvians, who are the ones in real danger, – no problem, come, earn money,” said Kvėps.
LG does not name the exact amount that was paid to Russia in dividends last year.
The Court of Economic Affairs plans to announce the decision in the case at the end of the month.
LETA already wrote that the net turnover of the LG group last year was 159.819 million euros, which is 4.4 times less than in 2022, when natural gas prices experienced a huge increase, and the company also suffered a loss of 56.911 million euros compared to the profit a year earlier. In 2022, the turnover of “Latvijas gas” was 702.604 million euros, and the profit was 40.8 million euros.
LG’s largest shareholders are Russia’s Gazprom (34%), Rietumu banka (28.97%), the German company Uniper Ruhrgas International GmbH (18.26%) and SIA Itera Latvija (16%).
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Tags: court assesses payment dividends Latvijas gas Russian companies
