Recital 19

(19) The Russian Direct Investment Fund (RDIF) remains an instrument used by Russia to channel foreign currencies into its jurisdiction, to seek access to funds in order to sustain its war effort and to increase the resilience of its economy. The RDIF uses complex investment structures to hide its activities and co-financed projects and insulate them from the consequences of Russia’s war of aggression against Ukraine. Decision (CFSP) 2025/1495 therefore introduces a transaction ban targeting the RDIF, its subsidiaries, its significant investments and anyone providing those entities with investment services or other financial services. An investment is to be considered as ‘significant’ if it appears to be underpinned by a governmental economic policy or strategy or if it concerns a sector that is relevant for Russia’s long-term geopolitical manoeuvrability, in particular finance and banking, transport, telecommunications, defence, industrial manufacturing, advanced technology, energy, or the prospection, exploration and production of oil, gas and mineral resources, including related intellectual property or research and development. Decision (CFSP) 2025/1495 also adds 4 entities to the list of legal persons, entities and bodies, in which RDIF has made significant investments, that are subject to the transaction ban.

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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.