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EU Eyes Banning Nationals From Top Jobs at Russia State-Owned Firms

  • Ex-Chancellor Schroeder may have to give up role, people say
  • German proposal would need to be approved by all member states
European Union flags fly outside the headquarters of the European Commission, in Brussels, Belgium. 

European Union flags fly outside the headquarters of the European Commission, in Brussels, Belgium. 

Photographer: Geert Vanden Wijngaert/Bloomberg

The European Union is considering a German proposal to ban EU nationals from holding high-paying roles in Russian state-owned companies, according to people familiar with the matter.

The proposal, if formally presented by the European Commission and backed by all member states, would cast a wide net over EU nationals. As a result, it would likely scoop up former German Chancellor Gerhard Schroeder, said the people who declined to be named on confidential talks.