Gas and Dirty Money‎: Russian Corrosive Capital in Latvia

by Evija Djatkoviča

Sep 8, 2021 in CEIAS Papers

Gas and Dirty Money‎: Russian Corrosive Capital in Latvia

Latvia and the two other Baltic states—Lithuania and Estonia—are located at the ‎crossroads of the East and West. Their proximity to Russia, with which they share historic ‎ties and proficiency in the Russian language, has attracted Russian money to the region, ‎and vice versa.

However, as this paper ‎by Evija Djatkoviča shows, Russia’s economic presence in Latvia often takes the form of corrosive capital.‎

While this analysis focuses exclusively on Russia’s malign economic footprint in Latvia, ‎Moscow’s regional foreign policy toolkit, including ethnic Russian communities, and ‎geopolitical ambitions expose the three Baltic states much more broadly to Russia’s ‎influence.‎

Russian corrosive capital in Latvia, in particular, and the Baltic states, in general, is a ‎complex phenomenon that is rooted in history. Addressing this problem, therefore, ‎requires a collaborative effort by the private and public sectors to bring about structural ‎‎change.

Other papers in the series:

Matej Šimalčík | Oligarchs and Party Folks‎: Chinese Corrosive Capital in Slovakia and Czechia

Rumena Filipova | Danger Almost Deferred? Chinese Corrosive Capital in Bulgaria and Romania

Nina Pejič | Many a Mickle Makes a Muckle: Chinese Corrosive Capital in Croatia

The publication is supported by the Center for International Private Enterprise (CIPE). CIPE is not responsible for the content of this publication, or for any use that may be made of it. The views expressed herein are those of the author(s) alone. These views do not necessarily reflect those of CIPE.

Gas and Dirty Money
Russian Corrosive Capital in Latvia


Key Topics

CEEcorrosive capitalLatviaRussia


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