Plans for Russia sanctions: no top positions in state-owned companies?

Status: 09/25/2022 2:58 p.m

A proposal by the federal government is intended to put an end to “strategic corruption”. According to this, EU citizens are no longer allowed to hold top positions in Russian state-owned companies – as part of new sanctions.

According to the will of the federal government, EU citizens should in future be forbidden from holding top positions in Russian state-owned companies. This emerges from a proposal for new sanctions against Russia, which is available to the dpa news agency. The background is likely to be the case of ex-Chancellor Gerhard Schröder, who was the head of the supervisory board of the Russian oil company Rosneft for many years. If the federal government’s proposal were to go, something like this would no longer be possible in the future.

Prohibition should not apply to subsidiaries

With regard to the posts in the management bodies of Russian state-owned companies, the German paper states that the Russian government has long been trying to gain undue political influence on the EU states through well-paid jobs for EU citizens. This “strategic corruption” should be put to an end.

According to the paper, the ban should not apply to European subsidiaries of Russian state-owned companies. One such is Rosneft Germany. The company is now under trusteeship.

Among other things, oil price caps are planned

In the position paper, the federal government also proposes further measures – such as the implementation of the global price cap for oil imports from Russia, for which the G7 countries are already campaigning. In addition, there is talk of a ban on cooperation with Russian companies in the field of nuclear energy.

According to the proposals, it should also be forbidden to sell real estate in the EU to Russians. And other people are to be banned from entering the EU and their assets frozen in the European Union.

EU ambassadors are to advise on Wednesday

After the announced partial mobilization of Russia in the war against Ukraine, the EU states had agreed to impose further sanctions on Moscow. These must be decided unanimously in the EU.

The EU Commission held talks with representatives of the 27 countries over the weekend to explore their priorities. The German ambassador was invited to an interview on Saturday. The Brussels authorities are now working out a concrete proposal for the sanctions package, which the ambassadors of the EU states could then discuss on Wednesday.

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