Elena Kovalenko17:11, 08/04/232 minutes.1743

It is reported that from now on, economic measures can be aimed at prohibiting financial transactions.

Against the backdrop of massive anti-Russian sanctions imposed in connection with the Russian invasion of Ukraine, Russian President Vladimir Putin signed a law on blocking the funds and property of legal entities controlled by foreign organizations and foreigners against whom Moscow applies sanctions . 

The document was published on the official portal of legal acts of the aggressor country. 

According to the document, “blocked persons” means foreign states and organizations, legal entities controlled by foreign states. 

It is reported that from now on, economic measures can be aimed at prohibiting financial transactions.

After the introduction of sanctions by Russia against legal entities, their funds and property will be blocked. 

These restrictions can be applied in the event of “unfriendly actions” by countries that threaten Russia’s national security.The law comes into force 180 days after its official publication.

War in Ukraine and business in Russia

On February 24, 2022, the day of Russia’s full-scale invasion of Ukraine, Russia’s richest people collectively lost $46.6 billion. As of the end of 2022, their  losses approached $100 billion.

In January 2023, Putin blamed the “development” of the occupied part of Ukraine on Russian business. The aggressor instructed to use the funds of big business in order to “finance” the annexed regions of Ukraine .

(C)UNIAN 2023