The European Union added to its sixth package of sanctions and a ban on real estate transactions for Russian citizens, reports Bloomberg.
The proposal of the European Commission, part of which was presented today by its President Ursula von der Leyen, provides for the suspension of real estate transactions with Russian citizens, residents and legal entities – the sale or transfer, directly or indirectly, of the right to immovable property located on the territory of the Union, or shares in enterprises collective investment that provides access to such real estate, ”says the legal text cited by Bloomberg News.
The ban applies to Russians who are not EU citizens and do not have a residence permit in EU member states. This does not apply to those who have citizenship or reside in the European Economic Area or Switzerland, the agency explains.
The ban is part of the latest EU action against the Russian state and oligarchs, measures that for the first time will target Moscow’s lucrative oil industry and the country’s largest bank, Sberbank. It is expected, like other lenders in the past, to be excluded from SWIFT systems.
The plan must be approved by EU member states this week before it goes into effect and may be subject to change.