---
title: "Latvia Reveals Registry of ~170 Companies Trading with Russia and Belarus: 'Grindeks', 'Biolars', and 'Olfa' Included"
description: "The CSB of Latvia has begun publishing a list of about 170 companies trading with Russia and Belarus, following June amendments by the Saeima aimed at supporting Ukraine and limiting the income of aggressors."
date: 2026-08-21T01:40:02.000Z
lang: en
url: https://xab.info/en/posts/latvia-publishes-lists-of-companies-trading-with-russia-and-belarus
tags: [latvia, russia, belarus, trade, sanctions, ukraine, economy]
publisher: "XAB.info"
---

# Latvia Reveals Registry of ~170 Companies Trading with Russia and Belarus: 'Grindeks', 'Biolars', and 'Olfa' Included

![Flag of Latvia against the backdrop of the Daugava River in Riga — country revealed a registry of 170 companies trading with Russia and Belarus](https://xab.info/media/2026/08/21/latviya-publikuet-spiski-kompaniy-torguyushchih-s-rf-i-belarusyu/latviya-publikuet-spiski-kompaniy-torguyushchih-s-rf-i-belarusyu-1.webp)

## 🎯 Key Points

- On August 20, the CSB of Latvia began publishing an open list of enterprises trading with the Russian Federation and Belarus.
- The legal basis is the Saeima amendments of June 18 to the law on support for the civilian population of Ukraine.
- Based on July data, about 170 companies were included in the list, including 'Grindeks', 'Biolars', and 'Olfa'.
- 'Grindeks' reported the start of adjusting export directions, calling the process long-term.
- The authorities' steps correspond to Prime Minister Kučinskis' statement on ceasing trade with Russia with sectoral exceptions.

On Thursday, August 20, the Central Statistical Bureau (CSB) of Latvia began publishing a list of enterprises registered in the country that export goods to the Russian Federation or the Republic of Belarus, or import them from there. Until this point, such information was not publicly available: data held by the tax authority was subject to confidentiality restrictions and was not published openly. Thus, Latvian authorities have effectively converted closed tax data into public statistics, making trade ties with these two states a subject of open monitoring.

### Legal Basis: Saeima Amendments

The legal basis for the publication was amendments introduced by the Saeima of Latvia on June 18 to the law on support for the civilian population in Ukraine. According to the adopted changes, the State Revenue Service (SRS) is tasked with preparing the relevant data and transferring it to the CSB, while the Central Statistical Bureau is obliged to publish on its website a list of commercial companies carrying out exports to Russia or Belarus or imports from these countries. The explanatory note to the amendments emphasizes that the changes are necessary to support Ukrainian society in its resistance to the aggressor state, as well as to prevent the budgets of aggressor states from being funded through Latvian trade.

### Who Made the List

Based on data for July, the published list includes about 170 companies. Among them are the pharmaceutical conglomerate 'Grindeks', 'Lauma Fēbis', the 'Biolars' chemical plant in Oleni, 'Olfa', and several other enterprises. The appearance of such recognizable names in the open registry makes the new tool not only statistical but also reputational: companies maintaining trade ties with Russia and Belarus now automatically come under the scrutiny of the public, partners, and regulators.

### Business Reaction and Government Position

Some companies have already reacted to the publication. 'Grindeks' stated that the adjustment of export directions has already begun, however, in the pharmaceutical industry, this is a long-term process requiring time to restructure logistics, contracts, and certification. At the political level, the CSB's steps fit into the previously outlined course: in June, the new Prime Minister of Latvia, Andris Kučinskis, stated that he would instruct the Foreign Minister, Baiba Breže, to find a solution to cease exports and imports with Russia, noting that exceptions may be possible in certain sectors. Thus, the publication of lists becomes a tool for monitoring exactly how these exceptions are implemented and how quickly business is pivoting trade.

### Geopolitical Context

The new registry is being formed against the backdrop of heightened rhetoric regarding security in Europe. According to Latvian President Edgars Rinkēvičs, Russia has already begun a hybrid war against EU countries, seeking to intimidate states supporting Ukraine. In this logic, the transparency of trade flows is viewed by Riga as an element of pressure on business and depriving aggressors of income. It is expected that the lists published by the CSB will be regular and updated monthly, becoming a permanent mechanism of public and political control over Latvian-Russian and Latvian-Belarusian trade.

## 🔍 Fact-Check Verification

- [Latvia has begun publishing lists of companies trading with Russia and Belarus](https://www.rbc.ua/ukr/news/latviyi-pochali-publikuvati-spiski-kompaniy-1787276176.html) - Подтверждает факт публикации списков ЦСБ, дату поправок Сейма (18 июня), объём (~170 компаний по данным за июль) и перечень предприятий.

## ❓ FAQ

### Q: When did Latvia start publishing lists of companies trading with the Russian Federation and Belarus?
**A:** The publication was started by the Central Statistical Bureau on August 20, making such data publicly available for the first time.

### Q: On what basis did this publication appear?
**A:** Based on amendments introduced by the Saeima of Latvia on June 18 to the law on support for the civilian population of Ukraine: the SRS prepares the data, and the CSB publishes the list.

### Q: How many companies made it into the first list?
**A:** Based on July data, about 170 companies were included in the list, including 'Grindeks', 'Biolars' in Oleni, and 'Olfa'.

### Q: How did the business react?
**A:** 'Grindeks' stated that the adjustment of export directions has already begun, but in the pharmaceutical industry, this is a long-term process.