Martin Everson said:
I hope its a miscommunication otherwise it is a very dangerous precedent. Collective punishment assumes every Russia passport holder agrees with Putin. To say a Russian i.e living in Germany or France because of their Russian passport can't buy a property in the country they have resided in for decades is worrying. Sounds like a flawed proposal or misinterpretation of what is proposed.
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The European Commission's proposal would halt property deals with Russian citizens, residents and entities -- prohibiting the sale or transfer, directly or indirectly, of “ownership rights in immovable property located within the territory of the Union or units in collective investment undertakings providing exposure to such immovable property,” according to the legal text seen by Bloomberg News.
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Anyway lets keep to topic please. The subject is:
"Where should one keep their wealth to avoid future potential sanctions?"
Right now it seems like EU is no place to keep wealth if your passport is not strong. I always thought banana republics in South America confiscate wealth. I never thought I would see the day EU countries confiscate assets with no due process and the public cheer it on like clapping seals at a water park
🙁. I will see how this all plays but right now I will sideline EU for a while after having unloaded my EU government bonds already.
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