Report: EU can slap sanctions against 100 Russian firms, people

MOSCOW, May 17 (PRIME) -- The E.U. plans to add 100 new Russian companies and individuals into its sanctions lists, EUobserver news portal reported on Wednesday citing proposals to the union’s 11th package of sanctions against Russia.

“The EU has imposed an asset-freeze on more than 1,600 Russian individuals and entities (since February 2022). The 11th round will add about 100 more names to the pile,” it reported.

EUobserver also reported that up until now, most European firms paid next to no tax inside Russia on their profits there due to favorable double-taxation treaties. But in March, Russia’s Finance Ministry proposed freezing such tax treaties with some 40 unfriendly countries that imposed sanctions on Russia, including the E.U.

It also reported citing one Russian source who asked not to be named due to the sensitivity of the information that Russia plans to introduce a tax of up to 25% on the Russian profits of E.U. firms such as Armani, Clarins, Raiffeisen and the rest who stayed.

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