Prince Albert freezes funds and sanctions Russian wealth

Of Enrica Roddolo

«Procedures for freezing funds and economic sanctions». For Munich, a destination for Russian luxury tourism for years, a stance that is very economically worthwhile

“In accordance with its international commitment, the Principality has adopted and implemented, without hesitation, procedures for freezing funds and economic sanctions, identical to those adopted by most European states”. Prince Albert II of Monaco, at the helm since 2005 of the kingdom inherited from his father Ranieri – an enclave of riches and riches – announces that Monaco, with the Montecarlo jet set district with about 750 Russian residents, will also play a part.

And for Monaco – in the Belle Epoque the landing of Russian princes and Tsarist aristocracy, then the cradle of Serge de Diaghilev’s Russian Ballets – for years now a destination for luxury tourism also from Russia (such as from China, the United States, South America and London) is a stance that can be worth a lot. Economically. All the more right now, the aftermath of the pandemic crisis, which was heavy for a Principality based on tourism.

Not to mention that the football team, AS Monaco is headed by the Russian Dmitri Rybolovlev, with number two Oleg Petrov. He also owns the Monegasque basketball team from Russia.

As for the European measures taken the day after the Russian attack in Ukraineit must be said that technically Monaco, a sweet, “douce” tax country – but the prince has released the Principality since 2009 from the list of OECD paradises – has a permanent representation at the Council of Europe.

Albert II has always pursued a foreign policy in the name of close ties with the great international democracies. “We are small, but this does not mean that we cannot play a role, make our contribution to the international community”, the prince always repeats, who has just returned from the Beijing Winter Games (he is part of the IOC).

Therefore, his «firm condemnation of the invasion of Ukraine comes as no surprise“. And his “solidarity with the Ukrainian population, victims of military operations and bombings”. Which is coupled with his support for appeals for an “immediate ceasefire”.

«The Principality of Monaco reaffirms its attachment to respect for international law to the sovereignty and integrity and independence of states “. And, the prince hopes, “a solution to the conflict with the weapons of dialogue and democracy”.

Basically it is the lesson of Albert I, of whom this year the Principality celebrates the hundredth anniversary of his death. The ancestor of the current Prince Albert II, precisely in this enclave close between France and Italy, in fact laid the foundations of what would later evolve and become the League of Nations. Forerunner of the United Nations. He gathered around a table in one of his villas overlooking the French Riviera princes and heads of state to try to find alternative peace solutions to the use of weapons. At the time a chimera. In which, however, the “navigator prince” threw all his enthusiasm.

The statue of the “navigator prince” Albert I watches today from the top of the fortress the sea of ​​Monaco in which yachts and yachts (including Russian) have docked for years. But not anymore.

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