"The coalition conceptually agreed that it is necessary to analyze the example offered by Finland. Together with the coalition's partners and experts, we will evaluate the best way to limit the opportunities for Russian citizens to buy real estate in Latvia at the legislative level," Jurēvics explained.
Prime Minister Evika Siliņa's press secretary Aleksis Zoldners previously said that discussion of this issue was initiated by the Ministry of Agriculture at the cooperation meeting of the coalition parties, reported the LETA newswire.
Last week, Finnish Defense Minister Antti Hekenen proposed a bill that would prohibit Russian citizens and legal entities from buying property in Finland following long-running concerns about Russian buyers and their connections.
Finnish public broadcaster YLE reported a surge in Russian real estate purchases following the start of Russia's war in Ukraine.
The purpose of the bill is to reduce security risks during a crisis. The ban would apply to citizens and funds from countries that the European Union considers to have violated the territorial sovereignty of other countries and could threaten Finland's national security.
The Latvian Ministry of Foreign Affairs previously stated that setting restrictions for citizens of third countries to purchase land in Latvia is a matter for the legislature to decide.
The Ministry of Foreign Affairs noted that during a working visit to Finland in June, Foreign Minister Baiba Braže discussed the possibility of banning Russian citizens from buying property with the Finnish security authorities and representatives of the legislature in order to reduce security risks. The minister also discussed this initiative with her Lithuanian, Estonian and Polish colleagues shortly after her visit to Finland.
Though the three-party coalition has reached agreement on the matter, it will still need to go through parliamentary process bere it becomes law and the exact details remain to be outlined.
