February 8, 2023

Athens News

News in English from Greece

Greece has suspended the issuance of renewal of investment residence permits for businessmen from the Russian Federation

The Ministry of Immigration and Asylum of Greece suspends the issuance and renewal of investment residence permits issued to citizens of the Russian Federation.

Department of Immigration announcement: “The suspension applies to both pending licenses and new requests, informs the publication iefimerida.gr.

At the same time, according to the relevant message of the ministry, applications for issuing a residence permit of the category “businessmen, entrepreneurs” (“στελέχη επιχειρήσεων”) for citizens of the Russian Federation will not be considered until further notice. “It was especially noted that Greece is waiting for appropriate decisions from the European Union.

Recall that this situation has developed in view of Russia’s “special operation” in Ukraine and the subsequent sanctions against Russia.

Wikipedia Help. 2 stages of sanctions.

On February 21, the United States banned US citizens from financing and investing in the DPR and LPR, as well as from trading with them. On February 22 and 23, sanctions were imposed against banks that finance the defense industry (VEB, Promsvyazbank and their 42 subsidiaries, including FC CSKA), children of top Russian officials (Denis Bortnikov, Petr Fradkov, Vladimir Kiriyenko), and a ban on transactions with bonds of the Russian federal loan in the secondary market. On February 23, the United States imposed sanctions against the Swiss company Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline, and its chief executive Matthias Warnig. Germany has suspended certification of the Nord Stream 2 gas pipeline, withdrawing an existing report from the Ministry of Economy on the analysis of the reliability of supply and requesting a new assessment, taking into account “changes in the past few days.” The UK imposed sanctions against five Russian banks (Promsvyazbank, Rossiya, Industrial Savings Bank, Black Sea Development Bank, Genbank) and three Russian entrepreneurs (Gennady Timchenko, Boris Rotenberg, Igor Rotenberg). Australia has imposed sanctions against Russian banks, individuals and legal entities from the DNR and LNR. Canada imposed sanctions on Russian sovereign debt, deals with the DPR and LPR, as well as two Russian banks and State Duma deputies who voted for the recognition of the DPR and LPR. Japan restricted the placement of Russian bonds on its market, and also banned trade with and entry of officials from the DPR and LPR. The European Union imposed sanctions against 351 State Duma deputies who voted on February 15, 2022 in support of an appeal to President Putin with a request to recognize the DPR and LPR (the head of European diplomacy Josep Borrell announced his intention to “deprive” the State Duma deputies of “shopping in Milan, parties in Saint-Tropez, diamonds in Antwerp”), against 27 individuals and legal entities who “played a role in undermining or threatening the territorial integrity, sovereignty and independence of Ukraine” (including against Sergei Shoigu, Andriy Kostin, Igor Shuvalov, Maria Zakharova, Margarita Simonyan, Volodymyr Solovyov, Internet Research Agency, Rossiya Bank, Promsvyazbank and VEB), and also banned the financing of the Russian government and the Central Bank. Trade and investment sanctions were imposed on the DNR and LNR.

Sanctions for the invasion of Ukraine (second set of sanctions)

The UK has imposed sanctions on Russia over its invasion of Ukraine. More than 100 individuals and companies fall under the sanctions, for example, Kirill Shamalov (it is assumed that he is Putin’s former son-in-law), VTB, Rostec and Aeroflot. Aeroflot was banned from flying to the UK. The amount of deposits and deposits for Russian citizens in UK banks is limited to £50,000 ($66,800). A ban has been introduced on attracting financing by large Russian companies in the British market, as well as on importing technologies and equipment for oil refining to Russia. The same measures will be applied to Belarus. Personal sanctions, including asset freezes, against President Putin and Foreign Minister Lavrov.

US President Joe Biden announced “crushing” sanctions against Russia, which include:

limiting the ability of Russian companies to make settlements in dollars, euros, pounds and yen restrictive measures – inclusion in the SDN – blocking bank assets in US jurisdiction, a ban on dollar transactions, conducting any transactions with American counterparties for banks: VTB, Otkritie, Novikombank, Sovcombank restrictive measures – inclusion in CAPTA – restrictions on correspondent accounts in the United States for Sberbank sectoral sanctions that speak of “restrictions on all transactions, the provision of financing and other transactions with new debt obligations with a maturity of more than 14 days and new shares” include other large Russian companies, such as Gazprombank, Rosselkhozbank, Alfa-Bank, Moscow Credit Bank, Gazprom, Gazprom Neft, Transneft, Rostelecom, RusHydro, ALROSA, Sovcomflot, Russian Railways restrictions on the import of high-tech products restrictions for borrowings in the US and European markets for the largest Russian state-owned companies and personal sanctions, implying a freezing of assets, against sons: Secretary of the Security Council of Russia Nikolai Patrushev, Special Representative of the President of the Russian Federation for environmental protection, ecology and transport Sergey Ivanov, head of the Rosneft organization Igor Sechin, as well as against top managers of VTB and Sberbank. personal sanctions, implying asset freezes, against President Putin, Foreign Minister Lavrov, Defense Minister Shoigu, Chief of the General Staff Valery Gerasimov.

The European Union has imposed sanctions affecting the financial, energy, transport, technology sectors, as well as visa policy:

personal sanctions against President Putin, Foreign Minister Sergei Lavrov, Prime Minister Mikhail Mishustin and Defense Minister Shoigu, Deputy Chairman of the Security Council Dmitry Medvedev, Special Representative of the President Sergei Ivanov, Interior Minister Vladimir Kolokoltsev, State Duma deputies and Belarusian officials, providing for the freezing of assets, sanctions against the Ministry of Defense, the Foreign Intelligence Service, the Presidential Administration – getting into the “defense list” – a ban on the supply of goods and technology, as well as the provision of financial assistance, on the black list EU, implying a ban on European institutions from providing them with investments, assisting in conducting transactions with securities or other financial market instruments, as well as concluding transactions, included: Almaz-Antey, Kamaz, the commercial port of Novorossiysk, Rostec, Russian Railways, Sevmash, Sovcomflot and USC, the EU “defense list”, which implies a ban on the supply of goods and technology, as well as the provision of financial assistance, also included the following companies: Uralvagonzavod, the Kalashnikov concern, Almaz-Antey, aircraft and shipbuilding corporations, including MiG, Russian Helicopters, Sukhoi, Tupolev, USC, and companies in the space sector, including the Progress rocket and space center and others, sanctions against four Russian banks – Alfa-Bank, Otkritie, Rossiya Bank and Promsvyazbank. With regard to these banks, it is prohibited to make transactions, including buying and selling, as well as investing, transactions with securities issued after April 12, 2022, a ban on banks to accept deposits from Russians and Russian companies in excess of €100,000, to sell to customers from Russian securities denominated in euros, provide services for the sale of securities issued after April 12, 2022, as well as listing the shares of any Russian state-owned companies (with a state share of over 50%) on European exchanges, a ban on the sale of aircraft, spare parts and equipment for Russian airlines; deliveries of aircraft from the European Union will continue only until March 28, 2022 under contracts concluded before February 26. Also under the ban are their insurance and maintenance, the sale, supply, transfer, export to Russia of goods and technologies intended for use in the aviation or space industry, a complete ban on leasing aircraft, helicopters and other aircraft in the Russian Federation, as well as their insurance and maintenance , a ban on the supply of dual-use goods and technologies, the imposition of restrictions on the export of high-tech goods and technologies for their production, a ban on the supply of goods, equipment and technologies for oil refining, a ban on Russian diplomats, officials and businessmen from using a simplified visa regime for privileged access to the EU; this decision does not apply to ordinary citizens of Russia.

Canada has imposed sanctions against 62 companies and individuals, as well as their family members. They include members of the Security Council, including President Putin, Foreign Minister Sergei Lavrov, Defense Minister Sergei Shoigu and Finance Minister Anton Siluanov.
Restrictions are being introduced against the largest Russian banks.

Canada has suspended all export licenses for Russia. Japan banned the issuance of visas to some Russian citizens and froze the assets of individuals and organizations. The sanctions also cover goods that can be used for military purposes.
Switzerland joined the EU sanctions imposed after the recognition of the DNR and LNR.

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