Russians may be banned from buying real estate in the European Union - Bloomberg

The sixth package of European sanctions, in addition to the oil embargo and the disconnection of Sberbank from SWIFT, may include a ban on Russians buying property in Europe. It is reported by Bloomberg with reference to the draft of a new sanctions package.

“The proposal of the European Commission provides for the termination of real estate transactions with Russian citizens, residents and legal entities, prohibiting the sale or transfer, directly or indirectly, of “ownership rights in real estate located in the territory of the Union, or shares in collective investment enterprises providing access to such real estate property,” writes Bloomberg, citing the document.

The ban does not apply to Russians who have citizenship or a residence permit in the countries of the European Union, the European Economic Area or Switzerland.

Representatives of the EU countries on Wednesday are discussing the sixth package of sanctions against Russia, which involves the imposition of an embargo on Russian oil and new restrictions on Russian banks. Sanctions must be approved by all 27 EU countries.

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We talked about what could be included in the sixth package of sanctions and what parameters of the oil embargo are being discussed in today's morning newsletter .