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FINANCIAL SERVICES - BONDS, EQUITY OR SIMILAR FINANCIAL INSTRUMENTS

 

PROHIBITION

It shall be prohibited to directly or indirectly purchase, sell, provide investment services for or assistance in the issuance of, or any other dealing with bonds, equity, or similar financial instruments with a maturity exceeding 90 days, issued after 1 August 2014 to 12 September 2014, or with a maturity exceeding 30 days, issued after 12 September 2014 to 12 April 2022 or any transferable securities and money market instruments issued after 12 April 2022 by:
(a) a major credit institution, or other major institution having an explicit mandate or promote competitiveness of the Russian economy, its diversification and encouragement of investment, established in Russia with over 50 % public ownership or control as of 1 August 2014, as listed in Annex XII; or
(b) a legal person, entity or body established outside the Union whose proprietary rights are directly or indirectly owned for more than 50 % by an entity listed in Annex XII; or
(c) a legal person, entity or body acting on behalf, or at the direction, of an entity referred to in point (a) or (b) of this paragraph.

PRODUCTS CONCERNED

Bonds, equity, or similar financial instruments with a maturity exceeding 90 days, issued after 1 August 2014 to 12 September 2014, or with a maturity exceeding 30 days, issued after 12 September 2014 to 12 April 2022 or any transferable securities and money market instruments issued after 12 April 2022 by:

(a) a major credit institution, or other major institution having an explicit mandate or promote competitiveness of the Russian economy, its diversification and encouragement of investment, established in Russia with over 50 % public ownership or control as of 1 August 2014, as listed in Annex XII; or

(b) a legal person, entity or body established outside the Union whose proprietary rights are directly or indirectly owned for more than 50 % by an entity listed in Annex XII; or

(c) a legal person, entity or body acting on behalf, or at the direction, of an entity referred to in point (a) or (b) of this paragraph.

Annex III of EU Regulation

List of institutions referred to:

1. SBERBANK

2. VTB BANK

3. GAZPROMBANK

4. VNESHECONOMBANK (VEB)

5. ROSSELKHOZBANK

LEGAL SOURCE

EU Regulation (EU) 883/2014 of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. Article 5.1.

The EU Regulation is directly applicable in all EU Member States.

The EU Regulation is based on EU Council Decision 2014/512/CFSP of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. Article 1.1.