Latvian banks may be cut off from USD transactions

Latvian banks may be cut off from USD transactions because of suspicions of money laundering.

Now there is a tendency of closure of correspondent USD accounts in partner banks of the country, noted the new chairman of the Latvian financial regulator – The Financial and Capital Market Commission – Peters Putninysh.

«We need to create the comfort for them. It is a matter of national interest because it can not be that the country of EU and the Eurozone remained without the possibility to execute directly the clearing on the dollar transactions.», – noted Putninysh.

According to experts, Latvia will be able to conduct USD transactions in other ways, however, the blow to the country's reputation will be irreparable.

Your experience on this website will be improved by allowing cookies.