'Russians with Ukraine war link sold Malta golden passports': Financial Times

The Financial Times claimed on Sunday that Russians hit with EU sanctions over the Ukraine invasion can partially circumvent the travel ban because of the controversial Maltese 'golden passport'.

Among them, the FT refers to businessman Albert Avdolyan, who received his passport in 2015. Russia invaded Ukraine on February 24, 2022.

According to a tally by the Financial Times, in all, there are seven people who acquired Maltese citizenship and were later hit by US, EU or Ukrainian sanctions over Russia’s war in Ukraine.

The FT adds that the passport-holders are among a larger group of 16 people who successfully paid for Maltese citizenship despite being politically exposed individuals, or who later appeared on sanctions lists or were convicted of crimes.

Last December, Times of Malta reported that a Russian man who ran a “professional banking service for criminals across the world” was set to be stripped of his Maltese citizenship. Semen Kuksov, who acquired citizenship in 2022 was jailed in the UK in 2024 for his role in a billion-dollar money laundering network.

The sale of citizenship to non-EU nationals allows investors to become EU citizens, obtaining freedom of movement and access to EU financial systems. 

Acquiring, or denying, nationality is a member state's competence, but "golden passport" schemes had come under pressure before Russia invaded Ukraine.

In 2022, Malta suspended Russians and Belarusians from its cash-for-passports scheme. Soon after, the European Commission urged member states to explore ways to strip sanctioned Russians and Belarusians of EU nationalities that were acquired through such schemes. 

Malta has resisted calls to stop its scheme and is the last EU country that still offers citizenship for sale.

The commission has meanwhile taken Malta to the European Court of Justice in a bid to halt the scheme and is expected to rule on the matter on Tuesday.