Recital 17

(17) Decision (CFSP) 2025/1495 expands into a transaction ban the existing prohibition on the provision of specialised financial messaging services to certain Russian credit or financial institutions or other entities subscribing to financial messaging services or to Russian subsidiaries of third-country credit or financial institutions, which are relevant for the Russian financial and banking system, and are either large and important regional banks, which consequently facilitate regional and federal finances and business, or banks which facilitate significant cross-border payments, thereby bolstering the Russian economy and its industry, banks which undermine Ukraine territorial integrity by operating in the occupied territories, or banks which are already the subject of restrictive measures imposed by the Union or by partner countries. Decision (CFSP) 2025/1495 also adds 22 credit or financial institutions and other entities to the list of legal persons, entities or bodies subject to that transaction ban. Finally, Decision (CFSP) 2025/1495 adds exemptions related to the functioning of diplomatic and consular representations of the Union and of the Member States or of partner countries in Russia and to transactions made by nationals of a Member State who are residents in Russia. It also adds a derogation for transactions which are strictly necessary for divestment from Russia or for the wind-down of business activities in Russia. It is recalled that Union restrictive measures do not have extra-territorial effect and do not bind operators incorporated under the laws of third countries, including those of Russia. Therefore, without prejudice to Article 8a of Regulation (EU) No 833/2014, transactions between legal persons, entities or bodies incorporated or constituted under the law of a Member State and their subsidiaries in third countries do not qualify as a violation of that prohibition, including if credit or financial institutions subject to the ban are involved in such transactions. The exemptions and the derogation in Article 5h of Regulation (EU) No 833/2014 are without prejudice to the prohibition on operators in the Union to provide financial messaging services to the entities listed in Annex XIV to that Regulation.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-16 · Text as adopted (Official Journal); later amendments are not incorporated in this text.