On Friday 12 December, the Member States of the European Union are expected to decide by a qualified majority whether to adopt the proposed regulation banning the transfer outside the EU of Russian assets immobilised in a financial institution (central securities depository, bank).
Based on a provision of the TFEU (Article 122) that allows a Member State to be assisted in the event of an “exceptional situation, which depends on external factors which are beyond (its) control” this...