Euro

FINANCIAL SERVICES - EXPORT OF EURO DENOMINATED BANKNOTES

 

PROHIBITION

It shall be prohibited to sell, supply, transfer or export banknotes denominated in any official currency of a Member State to Russia or to any natural or legal person, entity or body in Russia, including the government and the Central Bank of Russia, or for use in Russia.

EXCEPTIONS

The prohibition (...) shall not apply to the sale, supply, transfer or export of banknotes denominated in any official currency of a Member State provided that such sale, supply, transfer or export is necessary for:

(a) the personal use of natural persons travelling to Russia or members of their immediate families travelling with them; or

(b) the official purposes of diplomatic missions, consular posts or international organisations in Russia enjoying immunities in accordance with international law.

SERVICES CONCERNED

Selling, supply, transfer or export of banknotes denominated in any official currency of a Member State to Russia or to any natural or legal person, entity or body in Russia, including the government and the Central Bank of Russia, or for use in Russia.

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 5i

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 1f