The EU banned to conduct research targeted by the sanctions of Russian banks

Moscow. October 22. The European Commission has banned banks and other financial companies of the European Union to carry out analytical studies of the Russian credit organizations which have been in the sanctions list.

“Forbidden to directly or indirectly provide investment services”, – stated in the document by the EC.

Despite the fact that the publication of analytical reviews is not formally consulting service, such reports give indirect advice. “The analysis contained in the study, in reality helps the potential investor to make a decision. For example, the decision on whether to hold, buy or sell securities”, – explained in the document.

Accordingly, any financial analysis must be considered as an investment service, which is prohibited by EU rules, says the European Commission.

In July and September last year the EU imposed restrictions against a number of Russian credit institutions – Sberbank, VTB, VEB, Gazprombank and Rosselkhozbank. In particular, it is prohibited to attract market funding with maturity of over 30 days.