Prohibits investments in projects co-financed by the Russian Direct Investment Fund

On 1 March 2022, in reaction to the invasion of Ukraine, the EU adopted Council Regulation 2022/345, which prohibits investment in, or contribution to, projects co-financed by the Russian Direct Investment Fund. It also prohibits the transfer or export of euro denominated banknotes to the Russian Federation or to any natural or legal person in the Russian Federation (with some exceptions such as personal use or official use of diplomatic missions). In addition, the Regulation prohibits the provision of specialized financial messaging services, which are used to exchange financial data (SWIFT), to certain Russian credit institutions and their Russian subsidiaries.

• Type:

  • Entry and establishment (Ownership and control)
  • Treatment and operation (Investment related trade measures)
  • Treatment and operation (Capital transfer and FOREX)

• Industry:

  • Not industry specific

• Sources:

  • https://eur-lex.europa.eu/, COUNCIL REGULATION (EU) 2022/345, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.L_.2022.063.01.0001.01.ENG&toc=OJ%3AL%3A2022%3A063%3ATOC, 01 Mar 2022
  • Lexology, Overview of EU, Swiss and UK sanctions against Russia and Belarus, https://www.lexology.com/library/detail.aspx?g=6f4ed7b5-b28c-46cf-a3f6-b2c649247fd9, 11 Mar 2022