The European Commission commented on sanctions against RDIF
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Sanctions against the Russian Direct Investment Fund (RDIF) are aimed at weakening the Russian financial system, a representative of the European Commission (EC) said in the European Court.
“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 representative office said (quote according to RIA Novosti).
RDIF came under EU sanctions in March 2022, after the outbreak of hostilities in Ukraine. EU companies are prohibited from investing in projects co-financed by RDIF. The Foundation advocates for the abolition of restrictions, since the EU Council, according to the defense, violated the rights of the organization.
RDIF is a Russian investment fund created by the Russian government in 2011 to invest in leading companies in fast-growing sectors of the economy. The fund acts as a co-investor, working together with international institutional investors.
EU High Representative for Foreign Affairs Josep Borrell in August announced the success of anti-Russian sanctions. He pointed out that the union, after February 24, 2022, introduced 11 packages of sanctions, which, in his opinion, “caused financial tension, cutting off the country from key markets and significantly worsening Russia’s industrial and technological potential.”
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