The European Council adopted emergency measures temporarily prohibiting any transfers of Central Bank of Russia assets immobilised in the EU back to Russia, citing urgency to limit damage to the Union’s economy and prevent additional resources from being used to finance Russia’s war of aggression against Ukraine. The regulation bans any direct or indirect transfer of assets or reserves of the Central Bank of Russia, as well as transfers involving any legal person, entity or body acting on behalf of, or at the direction of, the Central Bank of Russia, including the Russian National Wealth Fund. The prohibition is temporary and is intended to remain in place for as long as making available significant financial and other resources to Russia continues to pose or threaten serious economic difficulties within the Union and its member states and risks further deterioration of the economic situation.
European Council 2025-12-12
European Council adopts temporary ban on transferring immobilised Central Bank of Russia assets from the EU back to Russia
The European Council has enacted emergency measures temporarily banning the transfer of immobilised Central Bank of Russia assets in the EU back to Russia. This regulation prohibits direct or indirect transfers involving the Central Bank of Russia and related entities, aiming to prevent resources from financing Russia's war against Ukraine. The ban will remain as long as significant financial risks to the EU persist.