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

46 thousand businesses in the EU are Russian-owned

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.



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