MOSCOW, November 15Possible EU sanctions in the form of mandatory permission to withdraw funds may be especially sensitive for small companies of Russian origin, Ksenia Bondarenko, a senior lecturer in the Department of World Economy at the Faculty of World Economy and International Affairs at the Higher School of Economics, shared her opinion.
Earlier on Wednesday, Bloomberg reported that the European Union, as part of the 12th package of sanctions against Russia, proposes, among other things, to introduce partial currency controls: companies in Europe that are partially or wholly owned by Russian persons will have to request official permission, if they want to withdraw funds from the EU.
«This could be another way to retain capital within the EU. For entrepreneurs from Russia this will be sensitive, including from the point of view of Russian legislation — especially for large exporters «as part of the mandatory sale of export proceeds. Small companies exporting from Russia are likely to face greater difficulties than large ones, since they will not have a significant influence on obtaining permission from the EU,» the expert believes.
In addition, according to Bondarenko, we should not forget about the sanctions component. “It is unlikely that the EU will grant permission to withdraw funds to companies under sanctions,” she adds.