Russian MP moves to ban compatriots buying Monaco property
By Zak Jackson, MonacoViews Editorial
A senior Duma deputy has called for a total ban on Russian nationals investing in Monaco real estate, labelling the outflows a legalised theft from the Russian state.
Sergei Mironov, a deputy in Russia's State Duma, has formally demanded legislation to prohibit Russian citizens from purchasing property in Monaco, citing what he describes as catastrophic capital flight from the country. Mironov singled out Monaco and the Middle East as the primary destinations for funds he says should remain inside Russia, and directed sharp criticism at the Central Bank of Russia for what he characterised as deliberate inaction that benefits oligarchs at the public's expense.
The proposal carries direct relevance for Monaco's property market, where Russian buyers have historically represented a significant purchasing bloc, particularly in the top tier of the Carré d'Or and among large waterfront apartments. Pressure on that segment has already been reshaping demand since 2022 sanctions forced many Russian nationals to restructure their European holdings, and a formal legislative ban from Moscow would add a new layer of legal risk to any remaining transactions.
Whether the bill advances through the Duma remains uncertain, but the political signal is clear: Russian authorities are increasingly willing to frame overseas property ownership as a patriotic liability rather than a private right. For Monaco agents and legal advisers working with Russian-linked clients, the statement adds to a compliance landscape that has grown considerably more complex in recent years.