Dutch Ready to Ban Use of Shell Companies With Links to Russia

The Netherlands is pushing for a European Union-wide effort to clamp down on the use of shell companies by wealthy Russians and businesses, and the Dutch government is ready to impose its own restrictions if the bloc doesn’t act.

The Dutch government wants to restrict the use of trust offices that provide services to set up letterbox companies in the country because not doing so would mean “leaving a backdoor open” in sanctions against Russia, according to Finance Minister <-bsp-person state="{"_id":"0000017f-9246-d1d1-a7ff-fac7c32e0000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Sigrid Kaag. Such a measure would make it harder for Russian companies and their owners to set up and maintain ...