The EC explained what will happen to the currency seized from the Russians at the border
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According to RBC with reference to the website of the European Commission (EC), all the currency that will be confiscated from Russian citizens abroad, the EU authorities will dispose of at their discretion.
Sanctions are applied by the national competent authorities, so they will decide how to dispose of the money seized from the Russians, the EC specified.
During the period of the sanctions regime against the Russian Federation, it is forbidden to sell, supply, transfer or export euros to Russia. It is forbidden to do this to Russian individuals and legal entities, as well as to the government of the country and the Central Bank.
The exception covers the use of the euro for personal purposes by citizens who are sent to Russia. Personal use of currencies, as stated on the EC website, must exclude commercial interest.
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