Financial measures

1) It is prohibited to purchase, sell, provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money market instruments with a maturity exceeding 30 days, issued after 12.9.2014 to 12.4.2022 or any transferable securities and money market instruments issued after 12.4.2022 by an entity established in Russia engaged in the conception, production, sales or export of military equipment or services, as listed in Annex V of Regulation (EU) 833/2014; or by an entity established in Russia listed in Annex VI of Regulation (EU) 833/2014. 2) It is prohibited to provide trust services to Russian nationals or persons residing in Russia and entities established in Russia. 3) It is prohibited for any Russian nationals or entities established in Russia to participate in procurement contracts in the Union. 4) It is prohibited to provide credit rating services and access to any subscription services in relation to credit rating activities to any Russian national or person residing in Russia or an entity established in Russia. 5) It is prohibited to sell, supply, transfer or export banknotes denominated in any official currency of a Member State to Russia or to any person or entity in Russia, including the government and the Central Bank of Russia, or for use in Russia. 6) It is prohibited as of 12.3.2022 to provide specialised financial messaging services to the entities listed in Annex XIV of Regulation (EU) 833/2014 or to any entity established in Russia whose proprietary rights are owned for more than 50% by an entity listed in Annex XIV. 7) It is prohibited to sell transferable securities denominated in any official currency of a Member State issued after 12.4.2022, or denominated in any other currency after 6.8.2023, to any Russian national or person residing in Russia or an entity established in Russia. 8) It is prohibited for Union central securities depositories to provide any services as defined in the Annex of Regulation (EU) 909/2014 for transferable securities issued after 12.4.2022 to any Russian national or person residing in Russia or an entity established in Russia. 9) It is prohibited to accept any deposits from Russian nationals or persons residing in Russia or entities established in Russia or from an entity outside the Union if its proprietary rights are owned for more than 50% by Russian nationals or persons residing in Russia, if the total value of deposits of the person or entity per credit institution exceeds EUR 100 000. It is also prohibited to provide crypto-asset wallet, account or custody services to Russian nationals or persons residing in Russia or entities established in Russia. 10) It is prohibited to engage in any transaction with an entity established in Russia, which is publically controlled or with over 50% public ownership, as listed in Annex XIX of Regulation (EU) 833/2014; or with an entity established outside the union whose proprietary rights are owned for more than 50% by an entity listed in Annex XIX. Certain exemptions apply. It is also prohibited as from 22.10.2022 to hold any posts in the governing bodies of any entity referred to above. 11) It is prohibited to purchase, sell, provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments issued after 9.3.2022 by Russia and its government, Central Bank of Russia or any entity acting on behalf of it. It is also prohibited to make or be part of any arrangement to make new loans or credit to the previously mentioned entities after 23.2.2022. 12) It is prohibited to list and provide services for, as of 12.4.2022, and to admit to trading as of 29.01.2023, on trading venues registered or recognised in the Union for the transferable securities of any entity established in Russia and with over 50% public ownership. 13) It is prohibited to purchase, sell, provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money market instruments, issued after 12.4.2022 by an entity established in Russia, which is publicly controlled or with over 50% public ownership, as listed in Annex XIII of Regulation (EU) 833/2014, or by an entity established outside the Union whose proprietary rights are owned for more than 50% by an entity listed in Annex XIII. 14) Transactions related to the management of reserves as well as of assets of the Central Bank of Russia are prohibited. 15) It is prohibited to purchase, sell, provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money-market instruments issued after 12.4.2022 by any major credit institution or other institution with over 50% public ownership or control as of 26.2.2022 or any other credit institution as listed in Annex XII of Regulation (EU) 833/2014; or an entity established outside the Union whose proprietary rights are owned for more than 50% by an entity listed in Annex XII. 16) It is prohibited to acquire new or extend existing participation in any entity operating in the energy sector or in the mining and quarrying sector in Russia. It is also prohibited to grant new loan or credit or otherwise provide financing to, or create any joint venture with, any entity operating in the energy sector or in the mining and quarrying sector in Russia. The provision of related investment services is also prohibited. 17) It is prohibited to make or be part of any arrangement to make new loans or credit with a maturity exceeding 30 days to any person or entity listed in Annex III, V or VI of Regulation (EU) 833/2014, after 12.9.2014 to 26.2.2022; or to any person or entity listed in Annex III, V, VI, XII or XIII of Regulation (EU) 833/2014, after 26.2.2022. 18) It is prohibited to purchase, sell, provide investment services for or assistance in the issuance of, or otherwise deal with transferable securities and money market instruments with a maturity exceeding 90 days (issued after 1.8.2014 to 12.9.2014), or with a maturity exceeding 30 days (issued after 12.9.2014 to 12.4.2022) or any transferable securities and money market instruments issued after 12.4.2022 by major credit institution established in Russia with over 50% public ownership or control as of 1.8.2014, as listed in Annex III of Regulation (EU) 833/2014, or an entity established outside the Union whose proprietary rights are owned for more than 50%, as listed in Annex III. 19) It is prohibited to provide public financing or financial assistance for trade with, or investment in, Russia. It is also prohibited to invest, participate or otherwise contribute to projects co-financed by the Russian Direct Investment Fund. 20) It is prohibited to engage in any transaction with entities as listed in Annex XLIII of Regulation (EU) 833/2014 to obtain an injunction, order, relief, judgment or other Court decision pursuant to Article 248 of the Arbitration Procedure Code of the Russian Federation or equivalent Russian legislation, in connection with any contract or transaction the performance of which has been affected, directly or indirectly, in whole or in part, by the restrictive measures imposed by the EU. 21) FIt is prohibited to provide EU funding or Member State national programme funding to any entity established in Russia or to any entity owned for more than 50 % by an entity established in Russia. 22) It is prohibited for EU operators to engage in any transaction with credit or financial institutions and crypto assets providers (in Russia and third countries) as listed in Annex XLV of Regulation (EU) 833/2014. 23) It is prohibited for EU operators outside Russia to directly connect to the System for Transfer of Financial Messages (SPFS) or equivalent services set up by the Central Bank of Russia and to engage in any transaction with third country operators using SPFS, as listed in Annex XLIV of Regulation (EU) 833/2014. 24) It is prohibited to accept donations, economic benefits or support, including financial assistance, from the Government of Russia, an entity established in Russia publicly controlled or with over 50 % public ownership and from certain other entities.

EU

• Restrictive measures in view of the situation in Russia • Restrictive measures in view of Russia's actions destabilising the situation in Ukraine (sectoral restrictive measures)

EU country specific

Russia

Restrictive measures in view of Russia's actions destabilising the situation in Ukraine (sectoral restrictive measures) Since March 2014, the EU has progressively imposed restrictive measures (sanctions) against Russia targeting specific economic sectors in response to the illegal annexation of Crimea and Sevastopol and the deliberate destabilisation of Ukraine. The restrictive measures were expanded following Russia’s military aggression against Ukraine in February 2022 with the aim of weakening Russia’s economic base, depriving it of critical technologies and markets and significantly curtailing its ability to wage war. The first packages adopted by the EU included measures such as banning the export of dual-use and defence-related goods, blocking public financing for trade or investment with Russia, restricting oil refining-related exports, imposing aviation sector restrictions, and prohibiting various financial interactions and transactions with Russia. Additionally, they involved banning Russia from the SWIFT system, prohibiting the transmission and distribution of certain Russian State-owned information outlets, and limiting the export of maritime navigation goods and radio communication technology. In March and April 2022 further measures were introduced, including a full prohibition on transactions with certain Russian State-owned enterprises and four key Russian banks, a ban on imports of iron and steel products, export of luxury goods, a coal ban, a port access ban and a ban on any Russian and Belarusian road transport of sanctioned goods. In June and July 2022, in response to Russia’s ongoing military efforts, the Council imposed oil import restrictions, oil transport services restrictions, including transport to third countries, additional financial and business services and export measures, a broadcasting suspension, and a ban on the import of Russian gold. In order to curb Russia’s revenues to finance its war of aggression and to deprive its military and industrial complex of key components, the Council continued to expand the measures in 2022, including with new export and import restrictions and additional bans for Russian banks and media outlets. On 3 December 2022, the Council set an oil price cap for crude oil, petroleum oils and oils obtained from bituminous minerals from Russia. Following this, on 4 February 2023, the Council set two price caps for petroleum products from Russia. During 2023 the Council imposed further trade, transport and energy measures, such as additional export restrictions on sensitive dual-use goods and advanced technologies and measures to facilitate divestment from Russia by EU operators. The Council also adopted several measures to tackle the circumvention of sanctions. On 18 December 2023, the Council imposed a new import ban on Russian diamonds and on raw materials for steel production, processed aluminium products and other metal goods. Moreover, it introduced stricter energy measures and stronger anti-circumvention measures, including an obligation for operators to contractually prohibit the re-export of certain sensitive goods to Russia. The latest package of measures adopted on 23 February 2024 enhanced the EU’s actions to stop Russia from acquiring Western sensitive technologies for Russian military. Restrictive measures in view of the situation in Russia (2024) As part of the EU’s response to the accelerating and systematic repression in Russia as well as the continuing deterioration of the human rights situation in Russia, on 27 May 2024, the Council of the EU adopted a new framework for restrictive measures in view of the situation in Russia. This follows the untimely death of the opposition politician Alexei Nalvany in February 2024 and the European Council conclusions of 22 March 2024, which called for an end to the persecution of the political opposition and for the establishment of a dedicated sanctions regime. The new framework allows to sanction those responsible for serious human rights violations or abuses, repression of civil society and democratic opposition, and undermining democracy and the rule of law in Russia. It also allows to target those who provide financial, technical, or material support for, or are otherwise involved in or associated with people and entities committing human rights violations in Russia. The measures consist of an asset freeze and a prohibition to make funds available for designated individuals and entities, as well as a travel ban for individuals. Furthermore, the new sanctions regime introduces trade restrictions on exporting equipment, which might be used for internal repression, as well as on equipment, technology or software intended primarily for use in information security and the monitoring or interception of telecommunication. Together with the establishment of the framework, the Council also adopted on 27 May 2024 the first designations under the sanctions regime. Restrictive measures in view of Russia's destabilising activities In several of its Conclusions in 2022 and 2023 the Council strongly condemned Russian hybrid attacks threatening democracy, the rule of law, stability or security in the Union, its Member States and its partners, in the context of Russia’s war of aggression against Ukraine. In view of Russia’s continued hybrid campaign operations on European soil intended to harm, weaken and divide the Member States and its neighbourhood, on 8 October 2024, the Council established a new framework of targeted sanctions against Russia-driven persons and entities engaged in destabilising activities. the new sanctions framework covers activities such as, sabotage, foreign information manipulation, electoral interference, disinformation, malicious cyber activities and the instrumentalization of migrants by third countries. These restrictive measures consist of a travel ban to the EU for designated individuals and an asset freeze applying to both designated individuals and entities. Additionally, EU persons and entities are prohibited from making funds and economic resources available to those listed, either directly or indirectly. Derogations and exemptions to the restrictive measures are possible, including for the delivery of humanitarian aid.