Event 18e48cc2-7dc6-49bf-945b-af68a46fd189

Approved event from Hybrid War Tracker

Status: Approved Confidence: Low Category: Uncategorized Country: Latvia

Source: https://eng.lsm.lv/article/economy/business/19.12.2024-rebal...

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Event Time

1y ago

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Created

1mo ago

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Updated

1mo ago

Summary

Headline: Re:Baltica reports on ownership switch at Daugavpils electronics plant

Short Summary: Ownership of Daugavpils SMD Baltic electronics plant has transferred from Belarusian businessmen to a Latvian citizen, following investigations into links with Russian sanctions evasion.

Description

Ownership switch in Daugavpils electronics plant. The Baltic Center for Investigative Journalism, Re:Baltica, and its partner Buro Media reports that a company in ?? Daugavpils that had been identified as being owned by ??Belarusian businessmen has switched its ownership structure into the hands of a single ?? Latvian citizen.

Evidence

Quotes

Re:Baltica previously reported on Daugavpils firm SMD Baltic in an investigation that linked it indirectly to components for Russian drones.

the three Belarusian businessmen are no longer listed as owners of SMD Baltic as of December 6.

Data from the Business Register shows that currently the sole owner is Dmitrijs Radkevičs, who is a long-time employee and the only one who had a Latvian passport.

the disappearance of Belarusians from the list of owners is reminiscent of earlier examples in which Russian or Belarusian investors have either placed boards and sanctions listings behind layers of companies with dubious intermediaries, and not being citizens with links and actual authorities.

"Our company stopped all deliveries to Russia in the fall of 2022, immediately after the introduction of restrictions. SMD Baltic states that after the introduction of sanctions it only handled ‘EU and NATO’ standard products, as well as components that are supplied, imported or re-exported directly only to Russia, as well as to Belarus."

"...last week handed over to EU countries a list of almost 500 ‘high-importance’ companies suspected of supplying microchips or chips to Russia with dual circumvention in 2023."

Source

https://eng.lsm.lv/article/economy/business/19.12.2024-rebaltica-reports-on-ownership-switch-at-daugavpils-electronics-plant.a581026/