Relationship dossier
Monaco
Russia
Relationship assessment
Sanctions and reciprocal restrictions shape Monaco–Russia relations
Monaco toward Russia
-25Monaco aligned with restrictive measures against Russia following its full-scale invasion of Ukraine, including measures affecting Russian assets.
Russia toward Monaco
-25In 2022, Russia designated Monaco an “unfriendly state,” subjecting certain transactions involving creditors linked to Monaco to special rules.
Overall relationship
-20The relationship is shaped principally by Monaco’s alignment with restrictive measures against Russia and Russia’s reciprocal designation of Monaco as an “unfriendly state.” The scope of substantive bilateral cooperation beyond this sanctions-related confrontation is unclear.
How to read these scores
Scores are rough judgments, not objective measurements or current verification. Directional scores describe government policy and conduct, not public opinion. The overall score is an independent estimate, never an average.
- −100
- Extreme sustained hostility
- −50
- Substantially adversarial
- 0
- Mixed or neutral, supported by knowledge
- +50
- Substantially cooperative
- +100
- Exceptionally close sustained partnership
“Not assessed” means there is no recorded score. Pair existence makes no claim about diplomatic recognition or established relations.
Relationship context
Overview
Monaco aligned with international restrictive measures against Russia after Russia’s full-scale invasion of Ukraine, including measures affecting Russian assets. Russia designated Monaco an “unfriendly state” in 2022, bringing certain transactions involving Monaco-linked creditors under special rules. These reciprocal measures are the clearest features of the relationship, while the scope of broader bilateral cooperation is unclear.
Areas of tension
- Monaco’s alignment with restrictive measures against Russia following the invasion of Ukraine.
- Russia’s designation of Monaco as an “unfriendly state” and related transaction restrictions.
Key developments
Monaco aligned with international restrictive measures against Russia following the full-scale invasion of Ukraine.
Russia designated Monaco an “unfriendly state,” applying special rules to certain transactions involving creditors linked to Monaco.
Major uncertainties
- The scope of bilateral cooperation outside the sanctions context is unclear.
- The implementation and current extent of the respective restrictive measures are uncertain.