As a result of Russia’s continued invasion and attack on Ukraine, Monaco has joined its neighbours and announced it will be freezing the assets of Russians and imposing further sanctions upon them. The Palace announced: “Prince Albert of Monaco supported all efforts aimed at halting the fighting in Ukraine and encouraging the withdrawal of Russian armed forces from Ukrainian territory. “The Principality has adopted and implemented, without delay, procedures for freezing funds and economic sanctions identical to those taken by most European States.” The sanctions are a further blow to Russia’s oligarchs and super-elite who are particularly drawn to Monaco due to its status as a tax haven an ...
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