Text size

Moody's: There are 9,581 Bulgarian companies with more than 40% Russian ownership

46 thousand businesses in the EU are Russian-owned

published on 8/24/24 9:44 AM

Photo: EPA/BGNES / Photo: ЕПА/БГНЕС

Bulgaria ranks second in the European Union in the number of companies with more than 40% Russian ownership, according to a survey by Moody's.

The rating agency has identified 46,000 companies in the EU owned by Russian companies or individuals. Two-thirds of them operate in the Czech Republic - 12,480, Bulgaria - 9,581, Germany - 4,296, Latvia - 3,338 and Italy - 2,539.

The research is linked to the EU's 12th package of sanctions against Russia, obliging credit and financial institutions in the EU to report all transactions of more than €100,000 if they are linked to Russian individuals or entities from July 2024. The aim is to better assess potential violations of Russia-related sanctions and identify their sources of income.

Under the rules, such transactions will also have to be reported by EU companies more than 40% owned by Russian entities or individuals, including dual nationals.

Последвайте ни и в Google News Showcase, за да научите най-важното от деня!

Radio Bulgaria News economy moodys russia russian ownership

More from category

Rain with thunder again, but sunny at the Black Sea coast

Clear and almost calm weather will prevail overnight. Friday will be mostly sunny. Visibility will be reduced in the morning hours in places in the valleys. The cloudiness will start to increase from the west and in the afternoon in..

published on 9/12/24 6:55 PM

North Macedonia’s President Gordana Siljanovska-Davkova to visit Sofia

North Macedonia’s President Gordana Siljanovska-Davkova will visit Bulgaria on September 13, BTA reported, citing information from Siljanovska's office in Skopje. During her visit to the Bulgarian capital, Gordana Siljanovska-Davkova will meet with..

published on 9/12/24 6:09 PM

Court does not allow Ahmed Dogan’s DPS faction to participate in the elections

The Supreme Administrative Court rejected the appeal of the coalition around Ahmed Dogan - "Democracy, Rights and Freedoms - DPS" against the CEC's refusal to register it for participation in the elections on October 27. The..

published on 9/12/24 4:41 PM