Sanctions against Russia: beware of a Russian seller

If you are buying property from a seller of Russian nationality, it is important to ask a few specific questions first. After all, because of the sanctions against Russia, a Russian seller may not be able to receive your money.

The video below is a summary of this blog created using artificial intelligence.

Which sanctions are at stake?

European banks cannot accept more than €100,000 in deposits per Russian account holder.

For example, if a bank account has two Russian holders, the maximum amount in this account is EUR 200,000. The condition, however, is that both holders effectively own half of the funds in the account. Merely adding additional holders to a bank account to increase the limit is not allowed.

What does this mean for the buyer?

If you are buying a property from a Russian with a transaction value higher than 100,000 euros, you need to pay attention. You may not be able to pay the seller. Indeed, the beneficiary's bank will not accept funds if the bank account has or is deposited with more than EUR 100,000.

An example. You buy a property worth 220,000 euros. The seller has 75,000 euros in his bank account. The seller can then only receive a maximum of 25,000 euros. You cannot pay the remaining 195,000 euros.

Are there any exceptions?

Yes. The penalties do not apply to European residents, nor to citizens of EU nationality. In case the seller is officially resident in Spain and therefore registered as a resident of Spain, the €100,000 limit is not there.


If you learn that you are trading with a seller of Russian nationality, it is best - before committing to purchase - to check where the seller is officially resident. If the Russian seller has neither dual nationality nor is registered as a resident, the transaction may encounter difficulties. Therefore, ask for the DNI number (not the NIE number) from the seller before you commit to purchase.

Sources: Article 5b - COUNCIL REGULATION (EU) 2022/328 of 25 February 2022 and its interpretation by the Spanish treasury.

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