16:26 - 17.05.2023

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May 17, Fineko/abc.az. The EU countries want to help their companies leave Russia because of fears that they will be taxed "to finance the war", ABC.AZ reports with reference to portal EUobserver.

According to the portal, the 11th package of anti-Russian sanctions discussed by the EU will provide special permits for financial transactions and legal services designed to help European companies leave the Russian Federation.

Since the beginning of the conflict, the EU has frozen the assets of more than 1,600 Russian individuals and legal entities, as part of the 11th package of sanctions, it will add another 100 personalities and companies to them.

EUobserver reports that EU countries will be able to authorize financial transfers to sanctioned Russians if these funds are "necessary to complete transactions that are strictly necessary to close a joint venture or similar legal entity established in Russia with this individual or organization and owned by him until February 28, 2022". It is specified that operations will have to be closed until August 31, 2023.

In addition, the EU will ease the ban on the provision of commercial services by European law firms to Russian clients. EUobserver writes that "the competent authorities of the EU member states may allow until December 31, 2023 the provision of legal services that are mandatory for the completion of transactions".