EU bans transfer of euro banknotes to Russia

The EU has banned the sale, delivery, transfer or export of euro banknotes to Russia, or sending them to any individuals and legal entities, organizations or Russian state bodies, including the government and the Central Bank of the Russian Federation, for use in Russia, Report informs.

The restrictions will come into force in ten days, from March 12, according to the decision published in the EU magazine.

Western sanctions are being introduced against the background of the military operation announced on February 24 by Vladimir Putin to “denazify and demilitarize” Ukraine. After that, in particular, the assets of the Russian Central Bank were frozen. The EU also disconnected seven Russian banks from SWIFT, including VTB. The sanctions led to a sharp fall in the ruble, the dollar and the euro hit new highs. The Central Bank in response suspended transfers abroad for foreigners.