Monaco has adopted EU sanctions against Russia – 02/28/2022 at 20:04
The Principality of Monaco “has adopted and implemented without delay” the freezing of assets and the economic sanctions of the European Union against Russia, announced Monday the cabinet of Prince Albert in a press release.
“In accordance with its international commitments, the Principality has adopted and implemented, without delay, procedures for the freezing of funds and economic sanctions identical to those taken by most European States”, he indicated in a first official statement. since the start of the Russian invasion of Ukraine on Thursday.
The prince “condemns doomed” this invasion and “supports calls for an immediate ceasefire”, the statement said.
The principality considers “that disagreements and conflicts must be resolved solely through dialogue and diplomacy”, continues this text.
Monaco, the second smallest state in the world, hosts some 750 Russian residents. AS Monaco, the Ligue 1 football team, is thus owned by Russian Dmitri Rybolovlev. Similarly, the majority shareholder and president of AS Monaco basketball, the ProA club, is Russian: Aleksej Fedoricsev succeeded at the end of January at the head of the club to the Ukrainian Sergey Dyadechko, who is now vice-president.
Monaco has a long-standing close relationship with Russia, with the first commercial and political treaties and agreements concluded between the Russian Empire and the principality dating back to the 19th century. At the cultural level as well, like the Diaghilev Russian ballets which established themselves in Monte-Carlo at the start of the 20th century.
Head of state without an army, like the pope, Prince Albert II of Monaco removed the principality in 2009 from the list of tax havens imposed by the OECD.