JSC “Latvijas Gāze” statement regarding the 10th sanctions package of the European Union and its impact on the Company’s operations

On February 25, 2023, Council Regulation (EU) 2023/427 amending Regulation (EU) No. 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (hereinafter – Regulation No. 2023/427) took effect.

According to Article 5o of the Regulation, it is prohibited as of 27 March 2023 for Russian nationals or natural persons residing in Russia to hold any posts in the governing bodies of the owners or operators of critical infrastructures, European critical infrastructures and critical entities.

The JSC “Gaso”, a subsidiary of the JSC “Latvijas Gāze”, is a capital company of significance to national security which owns a critical infrastructure asset – the natural gas distribution network.

Having regard to the above and the requirements of the International and National Sanctions Law of the Republic of Latvia, the JSC “Latvijas Gāze” will take all actions to timely secure the necessary changes in the governance structure of the JSC “Gaso” in line with Regulation No. 2023/427.

There is no other substantial impact on the business activity of the JSC “Latvijas Gāze”.

The JSC “Latvijas Gāze” confirms that in its business as a provider of natural gas trading and supply services it complies with the regulatory enactments of the Republic of Latvia, the European Union and the United Nations (including laws, regulations, decisions, resolutions) that include and/or involve the application of sanctions and other restrictions regarding a number of persons, jurisdictions and territories, as well as the regulatory enactments of the USA that include and/or involve the application of sanctions and other restrictions.

JSC “Latvijas Gāze”


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