Russia’s ban on imports of fishery products from Latvia will do a telling blow to this sector of the Latvian economy, with a risk of bankruptcies and redundancies, Imants Cirulis, the head of the Latvian association of fish producers said on Thursday.
"The stuff of many enterprises is on annual leaves now," he said. "Add to it the season of equipment repairs. This pause will be long for many producers but we’ll yet have to see how long and for whom because those of them who sold more than a half of their produce to Russia will have a hard time.
"In the worst situation, many of them won’t be able to resume production operations at all," he said. "People will become redundant and the enterprises will be unable to meet their financial obligations," Cirulis said.