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Thursday, May 26, 2022
HomeLatest NewsNotaries see in Spain 100 connections of 14 Russian oligarchs who fell...

Notaries see in Spain 100 connections of 14 Russian oligarchs who fell under sanctions

General Council of Notaries passed on the information provided Centralized Authority for the Prevention of Money Laundering (OCP) Above over 100 links what would they have 14 Russian oligarchs were sanctioned in Spain. From the OCP they found 29 objects associated with those who fell under the sanctions, of which 11 owned directly or through partnershipsthe data they transmitted to the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Crimes (Sepblac) and to the Secretariat of the Commission for the Prevention of

When we find something, we report“, Mariano García Fresno, head of the analysis and communication department of the Centralized Authority for the Prevention of Money Laundering of Notaries, said in an interview with Europa Press. In particular, this authority discovered and sent information about 14 sanctioned in the lists 88 connected people those who are punished 8 associated Spanish entities and 7 foreign entities (UK, Switzerland, Lithuania and Liechtenstein) are linked. In addition, it was provided information about 29 objects in Spain are associated with those who fell under the sanctions, of which 11 are directly owned or through societies sanctioned and 18 from relatives. As for the other assets, the notaries reported about the mooring of the boat.

notaries are actively working on identify the assets of Russian oligarchs, as well as related, by checking all notarial acts registered in the databases. This work to identify the assets of the oligarchs in the country is carried out in cooperation with various state administrations and has made it possible to immobilize many of their property and vehicles – proportionately more property has been immobilized than vehicles.

In this context, The executive branch has just approved a new mechanism to speed up the freezing of assets of Russian oligarchs on behalf of nominees or intermediaries.. These additional European Union (EU) restrictions on Russia remove potential barriers to taking action against those Russian oligarchs who hold assets in the country. In particular, this allows registrars property, commercial and movable property qualify and publish registered titlescontributing to the effective prohibition of the disposal of property registered in the name of individuals under sanctions or persons subject to sanctions.

All of this takes place in the context of the Registrar’s Board condemning that in Spainit is not possible to identify partners of a limited liability company –because it is not included in the trade register–, which means anti-money laundering ‘hole’ hinders investigations into Russian oligarchs. Against this argument, the General Council of Notaries emphasizes that there are no holes in this regard, since a high percentage of owners of limited liability companies can be known. “We have identified the owner from the first participation to the last one,” emphasizes Mariano Garcia Fresno, recalling that participation is formalized at the notary.

In addition Royal Decree Law Recently approved, it establishes a special procedure for the payment of wages to employees, as well as other obligations of Spanish missions abroad at their own expense, minimizing the possible use of the Russian financial system. The purpose of this measure is promote compliance with the EU sanctions regime. Thus, through these direct payments, it is possible to avoid recourse to Russian financial institutions, which, although not subject to European sanctions, may present a risk of evasion.

According to the latest figures released by the government, Spain has frozen a total of twelve funds and bank accounts of five Russian oligarchs affected by sanctions for invading Ukraine.also acted on three luxury boats and 23 properties. In particular, the sanctions imposed by the European Union mean in Spain the immobilization of twelve funds and bank accounts linked to five of those authorized by the Community institutions. Three luxury boats belonging to Russian oligarchs were also confiscated, and action was taken against 23 properties owned by the victims and located in Spain.


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