Russian businessmen and enterprises that are subject to EU sanctions can sell their shareholding in companies registered in the European Union until 9th October 2022. The European Union has introduced amendments to the latest list of sanctions allowing the temporary release of funds to regulation No. 2022/580 issued on 8th April 2022. MAviO News is reliably informed there are at least two operators registered in Malta which could possibly find themselves in hot water as a result.
The transfer of assets will have to take place within the aforementioned six-month period. Proceeds from the sale of such shareholding will remain frozen as indicated in the fifth pacakge of sanctions against Russia and the oligarchs close to the Kremlin. MAviO News has spoken to ATEO Air LLC based in Florida USA, with a European office in Monaco who is on the hunt for any aviation assets including AOCs that would have to be relinquished as a result of the sanctions.