Insurer Swedish Club is advising shipowner members to exercise caution following the sanctioning of Ventspils Port Authority by the US.
The company was one of four blacklisted by the Treasury Department’s Office of Foreign Assets Control (Ofac) due to links to suspended Ventspils mayor Aivars Lembergs.
Ofac said Lembergs is "responsible for or complicit in, or directly or indirectly engaged in, corruption, including the misappropriation of state assets, the expropriation of private assets for personal gain, corruption related to government contracts or the extraction of natural resources, or bribery."
