Stacks of Coins

Investment and financing services in Crimea and Sevastopol

 

Prohibition

It shall be prohibited to:

(a) acquire any new or extend any existing participation in ownership of real estate located in Crimea or Sevastopol;

(b) acquire any new or extend any existing participation in ownership or control of an entity in Crimea or Sevastopol, including the acquisition in full of such entity or the acquisition of shares, and other securities of a participating nature of such entity;

(c) grant or be part of any arrangement to grant any loan or credit or otherwise provide financing, including equity capital, to an entity in Crimea or Sevastopol, or for the documented purpose of financing such entity;

(d) create any joint venture in Crimea or Sevastopol or with an entity in Crimea or Sevastopol;

(e) provide investment services directly related to the activities referred to in points (a) to (d).

Exceptions

The prohibitions and restrictions i(...) do not apply to the conduct of legitimate business with entities outside Crimea or Sevastopol where the related investments are not destined to entities in Crimea or Sevastopol.


The prohibitions (...) shall be without prejudice to the execution of an obligation arising from a contract concluded before 20 December 2014, or ancillary contracts necessary for the execution of such a contract, provided that the competent authority has been informed at least five working days in advance.

Services concerned

(a) Acquisition of any new or extension of any existing participation in ownership of real estate located in Crimea or Sevastopol;
(b) Acquisition of any new or extend any existing participation in ownership or control of an entity in Crimea or Sevastopol, including the acquisition in full of such entity or the acquisition of shares, and other securities of a participating nature of such entity;
(c) Granting or being part of any arrangement to grant any loan or credit or otherwise provide financing, including equity capital, to an entity in Crimea or Sevastopol, or for the documented purpose of financing such entity;
(d) Create of any joint venture in Crimea or Sevastopol or with an entity in Crimea or Sevastopol;
(e) Provision of investment services directly related to the activities referred to in points (a) to (d).

Legal Source

Council Regulation (EU) 692/2014 of 23 June 2014 concerning restrictive measures in response to the illegal annexation of Crimea and Sevastopol. Article 2a


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

The EU Regulation is based on Council Decision 2014/386/CFSP of 23 June 2014 concerning restrictive measures in response to the illegal annexation of Crimea and Sevastopol. Article 4a