The EU has published new rules on ‘Russian-owned‘ businesses transferring assets out of EU.
The requirements relate to transfers of funds out of the EU by EU entities with a certain level of direct or indirect Russian ownership.
The reporting obligation has a broad scope, covering funds transfers out of the EU to all destinations.
As part of its 12th package of sanctions adopted on 18 December 2023, the EU introduced the new Article 5r to Council...
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