Today’s decision completes the package of measures announced by the High Representative on 27 February.
The European Union has banned the sale, supply, export to Russia of euro banknotes, as well as investment in funded projects together with the Russian Direct Investment Fund.
- The relevant regulations were published in the Official Journal of the EU.
“The EU Council has banned any investment, participation or contribution in any other way in future projects funded together with the Russian Direct Investment Fund.
*EU council tweet on conference
#ECOFIN | Economy and finance ministers will meet today via video conference to discuss the economic and financial consequences of the situation in Ukraine 🇺🇦
For more info 👇
— EU Council (@EUCouncil) March 2, 2022
The council has banned the sale, supply, transfer or export of euro banknotes to Russia or of any nature (or legal entity) organization in Russia, including the government and the Central Bank of Russia.
At the same time, as explained in the “Official Journal of the EU“;
The personal use of euro banknotes is allowed by individuals arriving in Russia, as well as by diplomatic missions and international organizations that have legal immunity.