The Latvian port city of Ventspils may soon encounter difficulty safely storing some 40,000 tons of liquid ammonia, city council chairman Janis Vitolins told LETA news agency on Sunday.
The hazardous material is owned by Ventamonjak, the company that runs the liquid ammonia terminal located at the local port. The terminal, which has multiple holding tanks to store ammonia, is the largest facility of its kind in the Baltic Sea region.
Ventamonjak is controlled by Uralchem Freight Limited Cyprus, which is owned by Russian billionaire Dmitry Mazepin. The ownership structure makes the terminal subject to the sanctions affecting Mazepin, the official explained. As a result, Ventamonjak’s ability to perform financial transactions is currently restricted.