Russia

Putin Signs Law to Block Assets of Blacklisted Foreigners

MOSCOW (Sputnik) - Russian President Vladimir Putin has signed a law on blocking the finances and property of foreigners who have fallen under Russia's restrictions.
Sputnik
The document was published on the official legal information portal on Friday. It specifies which individuals and entities will experience restrictions: foreign states, organizations and citizens, persons without citizenship, including legal entities controlled by them which are those companies where more than 50% of votes in the supreme governing body are possessed by them, including jointly by several blocked persons.
All financial organizations will have to block operations with their money and property - under the threat of Central Bank measures, up to and including license revocation.
Even bookmakers and totalizators will not be allowed to work with the "black list" - neither to accept bets nor to pay out winnings. The law will come into force in six months.
Discuss