Bulgaria is second in the European Union in the number of companies in which Russians participate citizens or Russian companies.
The international rating agency Moody's has conducted a study and identified 46,000 companies in the EU, in which more than 40% are owned by Russian companies or Russian individuals, writes in “Now&ldquo ;.
The study is in relation to the 12th EU sanctions package against Russia, which from July 2024 obliges EU credit and financial institutions to comply with new accounting and reporting requirements for all transactions exceeding €100,000. if they are related to an entity originating in Russia.
The European Commission focuses on companies over 40% of which are owned – directly, indirectly or through a joint ownership share, of Russian legal entities or individuals, including those with dual citizenship.
It turns out that there are 9,581 companies in Bulgaria that meet the condition of 40% Russian ownership, according to Moody's data. Thus, our country ranks second after the Czech Republic, where 12,480 companies with Russian connections have been identified.
In five EU countries - the Czech Republic, Bulgaria, Germany, Latvia and Italy, 2/3 of the companies that fall under special surveillance are concentrated.
Czech Republic: 12,480 (27% of all companies),
Bulgaria: 9,581 (21%),
Germany: 4,296 (21%),
Latvia: 3338 (21%),
Italy: 2,539 (21%).
Banks, credit institutions and other obligated financial entities in these countries should pay particular attention to their exposure, Moody's also stated.
Companies with a Russian connection are all over Europe and therefore financial institutions in each country must report to the national competent authority any transaction of funds of such companies over €100,000.
Funds means financial assets such as cash, checks, money claims, payment orders and other payment instruments, deposits in financial institutions or other entities, account balances and liabilities. The €100,000 threshold includes both one-off asset transfers and cumulative transactions within 6 months.
And more - in the so-called The EU's 12th package of sanctions against Russia, related to the war with Ukraine, aims to limit potential violations of previously imposed sanctions, as well as reveal Russia's sources of income.
In 2022, the ban on accepting deposits from Russian citizens or natural persons residing in Russia exceeding EUR 100,000 was issued, Moody's recalls.