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EU Commission says 'EU values not for sale, Golden Passports Illegal'. In a key development in the Russia-Ukraine war, the European Commission, on Monday, stated that European values are not for sale. The European Commission urged on Monday member states to repeal existing investor citizenship schemes, including the so-called golden passports and golden residence permits. The Commission asked member states to assess the citizenship of Russian or Belarusian nationals that reside in the European Union under such programs should and "immediately withdraw" the citizenship of those nationals who are on an EU sanctions list.
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The Commission stressed such schemes are illegal under EU law and that it opened infringement cases against member states for their use in the past. "Golden residence permits issued to Russians and Belarusians under EU sanctions should be revoked. Now more than ever, in the face of war, we must do everything to ensure that Russians and Belarusians under sanctions and those supporting Putin's war of aggression cannot buy their way into the EU," said Commissioner for Home Affairs Ylva Johansson.

In a significant development amidst the ravaging Ukraine war, the European Commission, in a big statement on Monday, asserted that European values are not for sale and that they consider the sale of citizenship through 'golden passports' illegal under European law. The Commission further added that this poses "serious risks" to their country and all European countries concerned should "end their investor citizenship schemes immediately."

Bulgaria on Thursday abolished its controversial "golden passports" scheme offering citizenship of the EU member state in return for substantial investment, which had been criticised by Brussels.

The scheme made it possible for foreigners to acquire residency when they invested a minimum of 500,000 euros ($570,000) in Bulgaria, and citizenship when they invested one million euros.

The beneficiaries were primarily from Russia, China and the Middle East.

Bulgaria's new government, which has made fighting corruption a key priority, had already urged parliament to discontinue the granting of such passports in January.

The decision by Bulgarian MPS on Thursday comes after the awarding of "golden passports" was again condemned by the European Parliament in the light of Western sanctions targetting Russian oligarchs over Moscow's invasion of Ukraine.

Earlier this month, MEPs repeated their call on Bulgaria, Malta and Cyprus to scrap both "golden passports" and "golden visas".

The European Commission has repeatedly called for the abolition of such schemes because they create an incentive for corruption and money laundering.

As part of the decision, MPs also authorised a full review of all passports granted since the scheme was launched in 2013.

According to the justice ministry, around 100 such passports have been awarded to date.

The previous interim administration had last year flagged concerns about possible irregularities in 47 cases.

Despite the decision, there will still be the option of acquiring a residence permit under the scheme.

Malta has also said it would suspend granting "golden passports" to Russians and Belarusians until further notice following the invasion of Ukraine.

According to the European Parliament, at least 130,000 people obtained a "golden passport" or a "golden visa" in the bloc between 2011 and 2019, generating 21.8 billion euros for the countries concerned.
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The European Commission urged on Monday member states to repeal existing investor citizenship schemes, including the so-called golden passports and golden residence permits. The Commission asked member states to assess the citizenship of Russian or Belarusian nationals that reside in the European Union under such programs should and "immediately withdraw" the citizenship of those nationals who are on an EU sanctions list.

The Commission stressed such schemes are illegal under EU law and that it opened infringement cases against member states for their use in the past. "Golden residence permits issued to Russians and Belarusians under EU sanctions should be revoked. Now more than ever, in the face of war, we must do everything to ensure that Russians and Belarusians under sanctions and those supporting Putin's war of aggression cannot buy their way into the EU," said Commissioner for Home Affairs Ylva Johansson.