EU flags outside the European Commission building in BrusselsBRUSSELS, Feb 26The EU prohibits accepting any deposits from Russian citizens residing in the Russian Federation in excess of 100 thousand euros, according to a document published in the Official Journal of the EU. «It should be prohibited to accept any deposits from Russian citizens or individuals residing in the Russian Federation, or legal persons, organizations or bodies established in Russia, if the total value of deposits of an individual or legal entity, organization or body on a credit institution exceeds 100 thousand euros,» the document says. This does not apply to EU citizens, as well as those who have permission to temporary or permanent residence in the European Union. The EU provides for certain exceptions to these rules. This decision, like the entire package of EU economic sanctions against the Russian Federation that has been in place for more than seven years, to which it was added, is valid until July 31, 2022 with the possibility of extension. Previously, these economic sanctions were regularly extended. On February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Luhansk People's Republics, and on February 24, Russia launched a special military operation to demilitarize Ukraine. In response, Western countries began a new round of the sanctions spiral, which has been unwinding since 2014. Several of the largest banks in the Russian Federation, including Sberbank and VTB, fell under the new restrictions. A number of state-owned companies found it difficult to attract foreign capital. Sanctions have been imposed on the supply of high-tech products to Russia. Germany has stopped certification of the Nord Stream 2 gas pipeline. Britain closed flights for Aeroflot. Russian authorities said they had prepared a plan of action in advance in case of a new wave of sanctions and would provide any necessary support to businesses that fell under the restrictions, ensuring the smooth operation of the economy. The Russian authorities are also working on retaliatory measures, but the details are not yet known. Among the response measures taken to date is the ban on overflights of British airlines over Russia. Gorbachev
