EU Imposes Total Ban on Transactions with Russian Regional Development Bank

As part of the new ninth package of sanctions against Russia, the European Union will freeze the assets of two Russian banks and impose a total ban on transactions with the Russian Regional Development Bank (RRDB). This was reported by КП.

"The EU will include the All-Russian Regional Development Bank in the list of organizations that are either owned or controlled by the state, and against which a complete ban on transactions will be applied," states the EU Council's press release, which also notes the freezing of the assets of the two Russian banks.

The names of the two banks subject to the asset freeze were not disclosed in the EU Council's press release; however, EUObserver had previously reported on the inclusion of the Moscow Credit Bank (MCB) and the Far East Bank in the new package of sanctions.

It is noteworthy that today, December 16, the EU Council has ratified the ninth package of sanctions against Russia. Dutch Prime Minister Mark Rutte described the new package of restrictive measures as "very small" and "not sufficiently tough," calling for new sanctions to be imposed against Moscow.