EU Proposes Financial Controls for Russian-Owned Companies

The European Union is considering the possibility of introducing an equivalent of currency control for companies owned by Russian owners. According to documents from Bloomberg, authorities may propose obliging companies with Russian owners to obtain special permission to withdraw funds from the EU. This implies tightening control over financial transactions related to Russian businessmen within the EU.

In addition, the possible introduction of a ban for Russians on certain positions in European companies providing cryptocurrency services is also being considered. Although details about which specific positions may be prohibited are not specified, this nevertheless indicates a potential restriction on access for Russian citizens to key positions in companies operating with cryptocurrencies within the EU.

These proposals are expected as part of the 12th package of EU sanctions, which also includes a ban on the import of diamonds, including those processed in third countries. Additionally, the package entails new price restrictions for Russian oil. The proposals are already undergoing approval in the European Commission and await approval from the Council of Europe. Discussions on these proposals are expected to begin on Friday, although official decisions on them may be made later.

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