War in Ukraine: The first seizures of Russian oligarchs assets in Greece

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.