1. It shall be prohibited, as from 25 June 2024 for legal persons, entities or bodies established in the Union and operating outside of Russia to directly connect to the System for Transfer of Financial Messages (SPFS) of the Central Bank of Russia or equivalent specialised financial messaging services set up by the Central Bank of Russia.

2. It shall be prohibited to engage, directly or indirectly, in any transaction with a legal person, entity or body established outside Russia as listed in Annex XLIV.

Annex XLIV shall include the legal persons, entities or bodies established outside Russia that use the SPFS of the Central Bank of Russia or equivalent specialised financial messaging services set up by the Central Bank of Russia or the Russian State and that, by such use, (i) increase Russia's financial resilience and (ii) support the circumvention of the prohibitions in this Regulation and Regulation (EU) No 269/2014.

3. The prohibitions in paragraphs 1 and 2 shall not apply to the execution until 26 September 2024 of contracts concluded with a legal person, entity or body listed in Annex XLIV before 24 March 2024, or of ancillary contracts necessary for the execution of such contracts.

4. The prohibition in paragraphs 1 and 2 shall not apply to the reception of payments due by a legal person, entity or body listed in Annex XLIV pursuant to contracts performed before 24 March 2024.

5. The prohibition in paragraph 1 shall not apply to transactions that are: