Brussels, March 28, (dpa/GNA) – The European Commission urged EU member states on Monday, to withdraw EU citizenship awarded to Russian and Belarusian individuals, subject to sanctions through golden passport schemes.
“Russians and Belarusians under sanctions and those supporting Putin’s war of aggression cannot buy their way into the EU,” said EU Home Affairs Commissioner Ylva Johansson in a statement.
The European Union adopted massive economic sanctions targeting oligarchs, politicians and business leaders, in response to the Russian invasion of Ukraine, including travel bans and a freeze on assets in the EU.
The move is part of a wider commission crackdown to eliminate citizen investor schemes from the bloc. Under such policies, a person may attain citizenship of an EU country in return for significant investments.
Investor residence schemes allow an individual to obtain a residence permit for an EU country in exchange for investment or payment. The EU executive is urging EU governments to end both policies.
EU Justice Commissioner Didier Reynders said in a statement that the investment schemes pose serious security risks and open “the door to corruption, money laundering and tax avoidance.”
The commission said this is due to the freedom of movement granted by EU citizenship to travel without checks in the Schengen area, the EU’s free travel area.
The commission has already started legal procedures against Malta and Cyprus for offering such schemes.
The EU executive also called on EU member states to suspend the issue of residence permits under investment schemes to all Russian and Belarusian nationals, regardless if they are subject to sanctions.
GNA