Anonymous investments in Crimea: Russia is trying to circumvent sanctions for annexation

Russia tries to circumvent sanctions for annexation of Crimea. Photo: pixabay

Russia tries to circumvent sanctions for annexation of Crimea. Photo: pixabay

The Ministry of Economic Development of the Russian Federation is trying to circumvent Western sanctions to attract investment in Crimea. Russia plans to amend the legislation due to which investors from other regions of Russia will receive anonymity.

The Russian government decided in this way to compensate for the lack of private investment in Crimea, RBC reports.

The sanctions that the US and the EU have imposed since 2014 against companies doing business in the annexed Crimea make it difficult to attract federal contractors.

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Anonymity will allow companies that have already come under sanctions or are at risk of coming under them.

In particular, we are talking about Russian companies that are registered in any region and have no branches or representative offices outside the Crimea. Business must be runned exclusively on the territory of the peninsula, and investments must exceed 150 million rubles.

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