Seven Russians targeted by Western sanctions obtained Maltese citizenship through investment

At least seven Russian nationals who were targeted by sanctions following the Ukraine war have obtained Maltese citizenship through investment.

According to a report by the Financial Times on Sunday, Russians sanctioned over the Ukraine invasion have partly bypassed EU travel restrictions thanks to Malta’s "golden passport" scheme. 

Among those named is businessman Albert Avdolyan, who obtained Maltese citizenship in 2015. Avdolyan, whose net worth is estimated to be in the billions, owns a coal mining and gas company.

According to the report, seven individuals who acquired Maltese citizenship were later sanctioned by the US, EU, or Ukraine in connection with the war. Furthermore, a total of 16 individuals either bought Maltese citizenship despite being politically exposed or ended up sanctioned or convicted later.

In 2022, Malta suspended new Russian and Belarusian applicants from its scheme. 

At the time, the Parliamentary Secretariat for Citizenship and Communities said that none of the applicants who have been granted citizenship or residency over the years are currently on the EU sanctions list.

Malta is the last EU member state to sell citizenship. The European Commission has taken legal action against Malta at the European Court of Justice, seeking to end the scheme. 

A ruling on the case is expected Tuesday.

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