At the moment, the situation in the EU countries is such that the accounts of companies which have not fallen under sanctions, but which have an amount of more than 125,000 euros, may be blocked. Reason for blocking: the account holder is a Russian.
Ferdinando Pelazzo, president of the Italian-Russian Chamber of Commerce, informed about the situation in a conversation with Rossiyskaya Gazeta. According to him, Russian entrepreneurs often use Cyprus or other countries to spend their assets.
Such transactions were carried out by entrepreneurs who are not Italian citizens, tax residents of Italy or have a residence permit in this European country.
Pelazzo noted that the assets of companies related to the sanctioned business are frozen, as well as those who have nothing to do with this business, that is, completely clean companies.
As calculated in the European Commission, by early May, about 24 billion euros of assets of Russian citizens and companies on the EU sanctions lists were frozen.