The Advocate General of the Court of Justice of the European Union explained what “support of the Government of the Russian Federation” is.
The EU Court of Justice has published the opinion of the Advocate General Laila Medina on appeal (case C-801/24) of the Russian National Settlement Depository (NSD) seeking the lifting of EU sanctions.
NSD was sanctioned in 2022 on the grounds that it provided financial support to the Russian government, playing an important role in the Russian financial system.
Medina’s conclusion concerns the interpretation of an article of the EU Regulation that allows for the inclusion in the list of persons/organizations “providing direct material or financial support to the actions of the Russian Government”.
In conclusion, it is estimated that support means not only direct financing or direct supplies of material resources to the Russian government, but also “any support that is capable, by its quantitative or qualitative importance, of providing the Russian Government with resources or facilities enabling it to pursue its actions to destabilise Ukraine.“
*The advocate general of the Court of Justice of the European Union participates in the court cases and may question the parties. Although the opinion of the Advocate General is not binding on either the European Court of Justice or the courts of EU member states, its conclusions are often taken into account and often indicate the decision that the EU Court of Justice will make in this case.
NSD is the Central securities depository of Russia, part of the Moscow Exchange Group.
