Russian money laundering in the EU is having a damaging effect on the economy and politics, and must be fought with people-targeted sanctions like the so-called Magnitsky Law, says the EPP  Group´s Luděk Niedermayer. At a hearing of the Special Committee on Financial Crimes and Tax Evasion, MEPs heard testimony showing how the money distorts the economy - for instance with real estate bubbles - and politics by supporting particular candidates. Niedermayer supports enacting the Magnitsky Law across the EU.

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