![War in Ukraine: The first seizures of Russian oligarchs assets in Greece](https://www.ot.gr/wp-content/uploads/2022/03/roubl.jpg)
Things are getting tighter for the Russian oligarchs who are subject to the economic sanctions of the West.
According to reliable information, the Greek auditing authorities proceeded to the first freezing of assets of Russian businessmen, who are active in Greece and are on the famous list of about 890 people who have been targeted by the European Union after the Russian invasion of Ukraine.
Sources with good knowledge of the case emphasize that they do not exceed five in number, clarifying that the frozen assets mainly concern real estate and bank accounts and not private jets or boats. The audit process was exhaustive while the cross-checking of the data was carried out with very fast procedures by the Anti-Money Laundering Authority, which is responsible for such cases.
Information states that about 5 people of the service took the responsibility of checking the list, having in their quiver the increased capabilities provided to the Authority for unimpeded access. It is reported that a new list will soon be sent from the European Union, which will contain more names of Russian citizens who will be checked for links to the Putin regime. Europe’s hunt for Russian oligarchs began in retaliation to Russia’s unprovoked invasion of Ukrainian territory and the start of military operations. The initial list of EU sanctions includes 893 individuals from Russia and Belarus as well as 60 companies and organizations.
According to state broadcaster ERT, this is a list compiled after 2014 and the annexation of Crimea by Russia and since then it was updated with the last update on March 15, 2022, when the list included the name of Russian oligarch Roman Abramovich who is said to have had a privileged relationship with Vladimir Putin, which helped him maintain his wealth. On the same day, the name of Alexander Mikeev, who is the president of Rosobonoexport, a state-owned military export company, was registered. It is one of the three listings of Greek interest, as this company has transactions with the Greek State while the other listings concern two Russian individuals, who are either in Greece or have assets here.
At the same time, in addition to those mentioned in the above list, Russian nationals living, working and doing business in Greece are also said to be affected as well-informed sources claim that their bank accounts have been frozen as well. As a result, they face a serious problem even for their daily transactions. Some even say that they are forced to borrow money from friends and acquaintances, until the landscape clears up and a solution is found. Other information wants a company of Russian interests that recently came to Greece to face a serious financial problem, without even ruling out the possibility of collapse and leaving the country. According to the same information, under these circumstances it will face serious difficulties in the payment of the employees it employs in big cities within Greece.
The game is afoot
For its part, Russia is toughening its stance on foreign companies leaving or freezing their presence in the country as part of international sanctions for the war in Ukraine. According to the Wall Street Journal, Russian prosecutors last week handed over the warnings to companies including Coca-Cola, McDonald’s, Procter & Gamble, IBM, and KFC parent company Yum Brands.
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
![ot.gr](/wp-content/themes/whsk_otgr/common/imgs/fav.ico/favicon-32x32.png)
Latest News
![Critical Week for Greece-Cyprus Cable](https://www.ot.gr/wp-content/uploads/2024/07/kalodio_elladas_cyprus_israil.jpeg)
Critical Week for Greece-Cyprus Cable
The study concluded that the social benefits of the interconnection, totaling 8 billion euros, far outweigh its 1.9 billion euros construction cost, resulting in a net social benefit exceeding 6 billion euros.
![Roberta Metsola Re-elected President of European Parliament](https://www.ot.gr/wp-content/uploads/2024/07/2024-07-16T110250Z_1107936467_RC2BW8AZP0U4_RTRMADP_5_EU-PARLIAMENT-2048x1366-1-600x400.jpg)
Roberta Metsola Re-elected President of European Parliament
Her second term will be for a period of two and a half years
![ELSTAT: 1.5% Increase in Business Turnover in May 2024](https://www.ot.gr/wp-content/uploads/2024/07/epixeiriseis_2-600x414.jpg)
ELSTAT: 1.5% Increase in Business Turnover in May 2024
The most significant increase in turnover in May 2024 compared with May 2023 was recorded from the enterprises of the Accommodation and Food Service Activities, sector which grew by 14.8%.
![Cosco: Container Traffic Decline at Piraeus Port Continues](https://www.ot.gr/wp-content/uploads/2024/07/olp1-scaled-1-2048x1312-1-600x384.jpg)
Cosco: Container Traffic Decline at Piraeus Port Continues
This strategic shift has diminished Piraeus's standing as a prominent Mediterranean port and a key transshipment hub post-Suez Canal.
![Gov’t Eyes Return of Power Subsidies Amid Spike in Rates](https://www.ot.gr/wp-content/uploads/2024/07/power-lines-2048x1365-1-600x400.jpg)
Gov’t Eyes Return of Power Subsidies Amid Spike in Rates
According to reports, the government will resume an electricity subsidization program, given that forecasts cite disruptions – i.e. higher rates
![ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock](https://www.ot.gr/wp-content/uploads/2024/07/ot_georg_PROIONTA_money-1-600x352.png)
ELSTAT: 6.3% Increase in Output Price Index for Agriculture and Livestock
The 6.3% rise in May 2024 is largely driven by an 8.8% increase in the crop output group, particularly due to changes in olive oil prices, and a 0.5% increase in the animal output group.
![Balkans Blackout Highlights Climate Threats to Power Grids](https://www.ot.gr/wp-content/uploads/2024/07/blackout-1-600x457.png)
Balkans Blackout Highlights Climate Threats to Power Grids
The surge in electricity demand during the heat wave and the power deficit in Balkan markets have driven up prices in the Greek wholesale electricity market.
![Greece in Top 4 Destinations Favored by European Tourists](https://www.ot.gr/wp-content/uploads/2021/06/ploio-600x400.jpg)
Greece in Top 4 Destinations Favored by European Tourists
Greece was selected by 5.9% of respondents who were asked where they would vacation this year, up from 5.4% in the same survey last year
![Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive](https://www.ot.gr/wp-content/uploads/2024/06/euros-2048x1365-1-600x400.jpg)
Scope Affirms Greece’s BBB- Ratings; Revises Outlook to Positive
The international ratings firm raised Greece to investment grade in early August 2023
![First Seaplane Test Flights to Skopelos, Alonissos, Skyros](https://www.ot.gr/wp-content/uploads/2024/06/hellenic-seaplanes-pilotikes-ptiseis-ydatino-pedio-lavriou-600x450.jpeg)
First Seaplane Test Flights to Skopelos, Alonissos, Skyros
After decades of on-again, off-again efforts to schedule regular seaplane routes to Greece's numerous island and coastal destinations the prospect now appears within sight