The European Union has decided to limit financial flows from Russia by banning European banks from accepting deposits from Russians and Russian companies in excess of €100,000. A ban on the sale of securities in euros to clients from Russia has also been introduced.
The European Union imposed restrictions on deposits in European banks for wealthy Russians and Russian companies, and also banned the sale and purchase in the interests of Russian clients – both individuals and legal entities – of financial instruments denominated in euros.
The corresponding decision was published in the official journal of the EU. At the same time, European depositories are prohibited from providing any services to Russian citizens and organizations for the sale of securities issued after April 12, 2022.
The European Union has banned Russians and Russian companies from keeping more than €100,000 on deposits in European banks. Brussels also introduced a ban on the sale of securities in euros. European depositories are prohibited from providing Russian citizens and organizations with services for the sale of securities issued after April 12.