The EU imposed restrictions on the deposits of Russians in Europe and the purchase of securities in euros

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.

This decision was taken as part of the sanctions in response to the continuation of Russia's actions destabilizing the situation in Ukraine. On February 24, Russia launched a military operation in the Donbass, having previously recognized the independence of the Donetsk and Lugansk People's Republics (DNR/LNR). In general , the EU sanctions concern the financial, defense, energy, aviation and space sectors of Russia.

Measures to ban large deposits for Russians and the purchase of securities in euros (shares, bonds and others) were taken as part of a strategy to limit financial flows from Russia to the EU. European banks are prohibited from accepting deposits from any Russian citizens (residents) or Russian legal entities in excess of €100,000 per credit institution. Earlier, the United Kingdom made a similar decision, banning Russians from holding deposits in British banks for an amount exceeding 50 thousand pounds sterling.

In addition, the European Union banned the listing of shares of any Russian state-owned companies (in which the state owns more than 50%) on European stock exchanges.