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Russians own 19,000 properties in Montenegro, EC seeks freezing

2022-05-07 19:54:43Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Russians own 19,000 properties in Montenegro, EC seeks freezing

The Russians own, or co-own, about 19,000 properties, equal to four million meters/square in Montenegro.

Most of them, 98 percent are properties located in coastal areas, mostly in Budva and Tivar, according to Montenegrin media.

Bloomberg says these figures are also reflected in a European Commission document, as part of a broader dossier aimed at blocking Russians' properties in EU countries and those candidates.

The document says that all Russian sestates must be blocked, except if their owners have citizenship, or leave to stay in the EU and Switzerland.

For others, the EC will block transactions with their properties, prohibiting the sale, or direct, or indirect transfer.

The exact value of Russian properties in Montenegro is not known, but it is estimated at billions of euros. In the first nine months of last year alone, Russians invested 13ml euros in real estate off the Montenegrin coast, according to Central Bank data in Podgorica.

 


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