26.09.2023, 20:20
The EC commented on the restrictions against the RDIF
Source: OREANDA-NEWS
OREANDA-NEWS The European Commission (EC) stated that the restrictions imposed against the Russian Direct Investment Fund (RDIF) are aimed at weakening Russia's financial system. The body's comment is quoted by RIA Novosti.
On September 26, the Court of the European Union in Luxembourg began considering the claim of the RDIF. The Fund seeks to abolish restrictive measures imposed by the EU Council in connection with the situation in Ukraine.
"These are not individual sanctions, but sectoral sanctions... The purpose of these measures is to cause economic damage to Russia and force it to reconsider its actions," the EC representative explained. It is noted that the sanctions were adopted in a "certain context", while we are talking about "the only sovereign fund of the Russian Federation", whose actions are controlled by the state.
Meanwhile, the lawyer of the RDIF said that the restrictions were adopted on the basis of an erroneous assessment of the fund's activities and role in the Russian economy.
Sanctions against the RDIF were introduced in March 2022. Among other things, European companies and individuals are prohibited from investing in, participating in, or contributing to projects co-financed by the RDIF.
Earlier, Acting Permanent Representative of Russia to the EU Kirill Logvinov said that disagreements between the members of the European Union are the main reason for the decline in the pace of the introduction of anti-Russian sanctions. According to him, the fatigue of European countries from restrictions cannot be called stable, its degree varies unevenly across member countries.
On September 26, the Court of the European Union in Luxembourg began considering the claim of the RDIF. The Fund seeks to abolish restrictive measures imposed by the EU Council in connection with the situation in Ukraine.
"These are not individual sanctions, but sectoral sanctions... The purpose of these measures is to cause economic damage to Russia and force it to reconsider its actions," the EC representative explained. It is noted that the sanctions were adopted in a "certain context", while we are talking about "the only sovereign fund of the Russian Federation", whose actions are controlled by the state.
Meanwhile, the lawyer of the RDIF said that the restrictions were adopted on the basis of an erroneous assessment of the fund's activities and role in the Russian economy.
Sanctions against the RDIF were introduced in March 2022. Among other things, European companies and individuals are prohibited from investing in, participating in, or contributing to projects co-financed by the RDIF.
Earlier, Acting Permanent Representative of Russia to the EU Kirill Logvinov said that disagreements between the members of the European Union are the main reason for the decline in the pace of the introduction of anti-Russian sanctions. According to him, the fatigue of European countries from restrictions cannot be called stable, its degree varies unevenly across member countries.
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