The Latvian Parliament is set to prohibit Russians from purchasing real estate.

The bill is titled "On Restricting Transactions Threatening National Security," and it has been prepared by the coalition party "New Unity," along with the ministries of justice and foreign affairs.

In addition to citizens of Russia and Belarus, the ban will extend to companies from these countries, foreign companies that have Russian or Belarusian nationals as ultimate owners, or Latvian companies in which Russians or Belarusians hold at least a quarter of the shares, report Latvian public media.

It is noted that the law will not have retroactive effect.

More news from Radio Free Europe: