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Germany: 'We need to hit Putin's friends where it hurts' - Bundestag votes on bill to enforce sanctions on oligarchs03:53

Germany: 'We need to hit Putin's friends where it hurts' - Bundestag votes on bill to enforce sanctions on oligarchs

Germany, Berlin
December 1, 2022 at 21:52 GMT +00:00 · Published

The German Bundestag voted to approve a draft bill by governing parties, SPD, the Greens, and the FDP to impose sanctions on Russian nationals and oligarchs in Berlin on Thursday.

“We need to hit Putin's friends where it really hurts them - their bank accounts, their mansions and their luxury toys from yachts to racehorses," said the FDP’s Markus Herbrand.

However, some members of the German parliament criticized the new bill, with the CDU’s Matthias Hauer saying it does not go far enough to have a real impact on the lives of oligarchs.

"The traffic light [coalition] continues to block bans on use, so the sanctioned oligarchs that colleague Herbrand just mentioned can continue to live undisturbed in their mansions and drive their luxury cars; there has also been no progress with assets of unclear origin; unfortunately, when it comes to transparency in business transactions, they are content with a minimum solution," he said.

The draft also allows for the implementation of a centralized authority to investigate sanctions violations, money laundering and hidden assets.

Germany: 'We need to hit Putin's friends where it hurts' - Bundestag votes on bill to enforce sanctions on oligarchs03:53
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The German Bundestag voted to approve a draft bill by governing parties, SPD, the Greens, and the FDP to impose sanctions on Russian nationals and oligarchs in Berlin on Thursday.

“We need to hit Putin's friends where it really hurts them - their bank accounts, their mansions and their luxury toys from yachts to racehorses," said the FDP’s Markus Herbrand.

However, some members of the German parliament criticized the new bill, with the CDU’s Matthias Hauer saying it does not go far enough to have a real impact on the lives of oligarchs.

"The traffic light [coalition] continues to block bans on use, so the sanctioned oligarchs that colleague Herbrand just mentioned can continue to live undisturbed in their mansions and drive their luxury cars; there has also been no progress with assets of unclear origin; unfortunately, when it comes to transparency in business transactions, they are content with a minimum solution," he said.

The draft also allows for the implementation of a centralized authority to investigate sanctions violations, money laundering and hidden assets.