Someone brought the following wording in EU decisions (such as EC 833/2014) about the 50% Rule to Mr. Watchlist’s attention:
- any legal person, entity or body established outside the Union owned for more than 50 % by an entity listed in the Annex;
So, while this limits the impact of sanctions on the EU economy, it also provides a path for these firms to provide funding back to their sanctioned owners. And that kind of defeats the purpose, does it not?
Mr. Watchlist is not amused…