МЕЖДУНАРОДНЫЕ ЭКОНОМИЧЕСКИЕ ОТНОШЕНИЯ RUSSIAN CAPITAL IN LATVIA: TRENDS AND PERSPECTIVES N.A. Volgina Department of International Economic Relations Peoples’ Friendship University of Russia Miklukho-Maklaya str., 6, Moscow, Russia, 117198 The article deals the issue of the positions of Russian capital in Latvian market. <...> The paper aims to estimate the volume and dynamics of Russian capital inflows into Latvia in compliance with Russian economic interests; to identify key sectors of Latvian economy that Russian capital is interested to invest in; to systemize information concerning Russian firms investing in Latvia; to assess the role of Russian capital in Latvian economy in comparison with other foreign investors; to propose author’s view on challenges and perspectives of Latvian-Russian investment cooperation in the situation of economic sanctions and geo-political conflict in east Ukraine. <...> The author underlines that at the end of 2013, investments of Russian business to Latvia constituted about 5.0% of the total FDI stock and by that time Russia was the 7th largest investor with 0.5 bln euro of capital invested. <...> The main sectors of Russian interests in Latvia are — gas supply, transport communications (transit corridors), banking and real estate. <...> The article concludes that though the future of Russian-Latvian economic relations in the short-run is on a substantial pressure of geopolitical factors, the economic interests in mutual investment relations will prevail in the long-run perspectives. <...> Nevertheless till now both countries have mutual economic interests that constitutes the basis for trade and investment cooperation. <...> Supply of Russian gas and oil is the key interest for Latvia. <...> Russian economic interests in Latvia are closely connected with such sector as transit transport corridors, which Russia uses for its energy delivery, as well as financial intermediaries. <...> Maintaining economic interests is the main Russian stimulus for investing in this Baltic state. <...> The paper aims to estimate the importance and significance of Russian capital in Latvia with special emphasis on the analysis of key determinants of Russian investment inflows into various sectors of Latvian economy. <...> In this connection the goals of the paper are as follows: to estimate the volume and dynamics of Russian capital inflows into Latvia in compliance with Russian economic interests; to identify key sectors of 126 Volgina N.A. Russian Capital in Latvia: Trends and Perspectives Latvian <...>