Bloomberg: Russian citizens will be banned from buying real estate in the European Union

Oleg Panfilovych

The European Union has added to the sixth package of sanctions against Russia a ban on citizens of this country to conduct real estate transactions in the EU.

This was reported by Bloomberg.

Russians will be prohibited from selling or transferring, directly or indirectly, "property rights to immovable property located in the territory of the European Union or shares in enterprises that provide access to immovable property."

The ban applies to Russians who are not EU citizens and do not have a residence permit in EU member states. This does not apply to those who have citizenship or the right to reside in the countries of the European Economic Area and Switzerland.

  • On Wednesday, the European Union officially unveiled its sixth package of sanctions against Russia. It will include restrictions against banks and oil embargoes.
  • The new package includes sanctions against Russian commanders and the military, disconnection from SWIFT of Russiaʼs largest bank, Sberbank, and an embargo on the purchase of Russian oil.