The European Commission announced the launch of the so-called 50% rule on sanctions against Russia, which means the expansion of anti-Russian restrictive measures.
As noted, “A company in which the majority of the shares of which are jointly owned by two or more sanctioned persons, even if none of them owns more than 50%, is considered to be under sanctions.”
The EC clarified that if one sanctioned person owns 30% of the business, and another 25%, then the entire company will be in the same status as that under the control of one sanctioned person.
On March 15, the European Union decided to introduce a new package of sanctions against a number of citizens and legal entities of Russia in connection with the situation in Ukraine.
Italy has frozen the assets of “Russian oligarchs” subject to EU sanctions in the amount of more than €800 million.
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