Financial Data

Financial services - Public financing or assistance for trade with or investment in Russia

 

Prohibition

1) It shall be prohibited to provide public financing or financial assistance for trade with, or investment in, Russia.

2) It shall be prohibited to invest, participate or otherwise contribute to projects co-financed by the Russian Direct Investment Fund.

Exceptions

1) (...) shall not apply to:

(a) binding financing or financial assistance commitments established prior to 26 February 2022;

(b) the provision of public financing or financial assistance up to the total value of EUR 10 000 000 per project benefitting small and medium-sized enterprises established in the Union; or

(c) the provision of public financing or financial assistance for trade in food, and for agricultural, medical or humanitarian purposes.


2)  By way of derogation (...), the competent authorities may authorise, under such conditions as they deem appropriate, an investment participation in, or contribution to, projects co-financed by the Russian Direct Investment Fund, after having determined that such an investment participation or contribution is due under contracts concluded before 2 March 2022 or ancillary contracts necessary for the execution of such contracts

Services concerned

1) Public financing or financial assistance for trade with, or investment in, Russia.

2) Investment, participation or other contribution to projects co-financed by the Russian Direct Investment Fund.

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 2e

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 4b