U.S. Department of the Treasury

WASHINGTON – Deputy Secretary of the Treasury Wally Adeyemo met today with Latvia’s Minister of Finance Jānis Reirs.  They discussed Latvia’s sustained commitment to strengthening its anti-money laundering/countering the financing of terrorism (AML/CFT) regime, including through supervisory efforts, enforcement actions against financial institutions with AML deficiencies, and a reduction of the banking sector’s reliance on non-resident deposits.  They also discussed close partnership on international sanctions imposed on Russia for its war against Ukraine and next steps to increase financial pressure on Moscow.  Deputy Secretary Adeyemo noted Latvia’s swift sanctions cooperation in November 2021, when Latvian authorities joined Treasury in a counter-ransomware action against virtual currency exchange Chatex.