Itera Latvija Appeals Inclusion in FID Sanctions List

The Administrative District Court will examine the case in written procedure on September 15. The company has filed a complaint against the factual action of the service—its inclusion in the FID's published list of sanctioned subjects. Itera Latvija requests to be removed from the list.

FID publishes information on its website about individuals and entities whose funds or economic resources are frozen in Latvia. This is done to ensure effective implementation of international and national sanctions.

The owners of SIA Itera Latvija are Cyprus-based Davonte Holding Limited (66%) and Denmark's Inter Energia Holding (34%). The beneficial owner, based on ownership via Inter Energia Holding, is Juris Savickis. Itera Latvija holds a 16% stake in the gas trader AS Latvijas Gāze.

It has been publicly reported that the actual controller of Itera Latvija is Rosneft CEO Igor Sechin, who is subject to a range of Western sanctions.