At least 46,000 companies with Russian participation identified in EU
The European Union has counted at least 46,000 companies with Russian participation that will have to report on their transactions in accordance with the requirements of the 12th package of sanctions against Russia.
According to Censor.NET, this was reported by Moody's.
The agency said that as of July 2024, tens of thousands of such companies had been identified, most of them in the Czech Republic (12,480), Bulgaria (9,581), Germany (4,296), Latvia (3,338) and Italy (2,539).
As noted, the Council of the European Union approved the 12th package in December 2023. One of its provisions provides for the introduction of a new measure requiring the reporting of transfers of more than EUR 100 thousand outside the EU from EU legal entities that are directly or indirectly owned by at least 40% by Russians or legal entities established in Russia.
The EUR 100,000 limit reportedly applies to both single transactions and the total amount for six months without a minimum threshold for each transaction. These rules are aimed at preventing potential violations of sanctions, as well as tracking the flow of money from European companies linked to Russia.
