Montenegro freezes Russian-owned real estate
Al Mayadeen English
2 min readRussia is the biggest investor in Montenegro’s economy, having invested at least 1.5 billion euros, or an average of 100 million euros a year, in the past 15 years.
Montenegro has begun to freeze real estate owned by Russian nationals, according to a corresponding document published on the government’s website on Wednesday.
On June 10, Montenegro's Interior Minister Filip Adzic said that 44 real estate facilities owned by Russian nationals will be frozen as part of the anti-Russian sanctions enacted in response to Russia's military operation in Ukraine.
According to experts, Russian residents and enterprises spent more than 129 million euros on Montenegro's economy in just one year, with 49.46 million euros poured into real estate alone.
Russian Ambassador to Montenegro Vladislav Maslennikov stated that Russia has been the largest investor in Montenegro's economy for the previous 15 years, investing at least 1.5 billion euros, or an average of 100 million euros per year.
Read next: Russian economy exceeds expectations: IMF
According to the Russian ambassador, Russian investments in Montenegro exceed the European Union's anticipated investments in the Western Balkans under the 2021-2027 investment plan (not more than 600 million euros).
On March 1, Montenegro joined the European Union's anti-Russia sanctions. Milo Dukanovic, the country's president, reaffirmed sympathy with Ukraine following a NATO summit.
Meanwhile, pro-Russian protests are held regularly in Montenegrin cities, with protesters requesting the lifting of anti-Russian sanctions. A total of 6,000 signatures have been collected for the country's parliament to examine the appropriate resolution.
A week after joining the anti-Russia sanctions, the Russian Federation's Government adopted a list of foreign governments and territories that engage in hostile measures and sanctions against Russia, its enterprises, and individuals.
Included on the list is the US, Canada, the EU, the UK, Montenegro, Switzerland, Albania, Andorra, Iceland, Liechtenstein, Monaco, Norway, San Marino, North Macedonia, and also Japan, South Korea, Australia, Micronesia, New Zealand, Singapore, and Taiwan.
