Montenegro starts to freeze real estate of Russians

The Montenegrin government has announced that the country started to freeze real estate owned by Russian citizens.

On June 10, the head of the Montenegrin Foreign Ministry, Filip Adzic, announced that 44 real estate objects owned by Russian citizens would be frozen in Montenegro, Kommersant reports referring to the website of the Cabinet of Ministers.

Russians and companies from the Russian Federation invested more than €129 million in the economy of the European state last year.

Of this amount, €49.46 million was invested in real estate.

In total, according to the Russian Ambassador to Podgorica Vladislav Maslennikov, Russian citizens invested at least €1.5 billion (€100 million per year) over the past 15 Montenegro.

Thus, Russia is the largest investor in the Montenegrin economy.

Montenegro is included in the list of unfriendly states, which was created by the Russian government. The country joined the anti-Russian sanctions on March 1.