The EBRD suspends all funding for Russian and Belarusian projects.

 The European Bank for Reconstruction and Development is moving ahead with its plans to exclude the Russian Federation and Belarus from receiving funding for projects. The EBRD Board of Governors has approved taking firm action against the Russian Federation and Belarus following the invasion of Ukraine. Access by the Russian Federation and Belarus to the resources of the Bank is to be formally suspended with immediate effect. This means there can be no new financing of projects or technical cooperation activities in either country. Furthermore, the Bank avails itself of all rights to suspend or cancel further funding disbursements on existing projects. The EBRD has already announced that it is closing its resident offices in Moscow and Minsk.