Latvia puts freeze on Moscow House's assets

RIGA - The Justice Ministry has decided to freeze the assets of Moscow House in Riga, Justice Minister Janis Bordans (Conservatives) told members of the Saeima Inquiries Commission on Wednesday.

Moscow House, a building at 7 Marijas Street in Riga, is positioned as a Russian cultural and business center. Its construction and maintenance is financed by the Moscow government. The Moscow House project was proposed by then Moscow mayor Yury Luzhkov and then Russian ambassador to Latvia Alexander Udaltsov in 2001.

At present, Moscow House is basically used as a venue of various shows and performances, film screenings and other cultural events, targeting mainly Russian-speaking audiences.

Previously, Bordans informed that the value of sanctioned Russian citizens' properties frozen in Latvia exceeds EUR 100 million and is likely to grow.

The sanctions have been imposed on certain Russian citizens and legal entities in response to the Russian invasion of Ukraine.

Moscow House head Eduards Cehovals told LETA that the center's assets have been frozen only because it has been receiving money though Russia's Alfa Bank, whose owners are sanctioned Russian billionaires Pyotr Aven and Mikhail Fridman. The assets are currently being examined, he said.

Cehovals added that shows and activities at Moscow House will continue to take place as scheduled.

The share capital of Moscow House is EUR 35,550. In 2020, Moscow House turned over EUR 160,000, down 57 percent from a year before, and sustained a loss of EUR 56,000, according to information available at Firmas.lv.