Latvian lats standard from its introduction till 1940. On 17 June 1940, Latvia was occupied by the USSR. After the dismantling of the Bank of Latvia and its replacement with the Latvia Republican Office of the Gosbank on 10 October, the Soviet ruble was introduced alongside the lats on 25 November 1940 at par, although the real monetary value of the rouble was about three times lower and thus both wages and prices were gradually raised to devalue the lats from June to November 1940. To lessen the effect of the exodus of goods sent by Soviet occupational personnel to the USSR,
State continuity of the Baltic states State continuity of the Baltic states State continuity of the Baltic states describes the continuity of the Baltic states as legal entities under international law while under Soviet rule and German occupation from 1940 to 1991. The prevailing opinion accepts the Baltic thesis of illegal occupation and the actions of the USSR are regarded as contrary to international law in general and to the bilateral treaties between the USSR and the Baltic states in particular. This legal continuity has been recognised by most Western powers and is reflected in their state practice. The application of the Stimson Doctrine by the