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1. It shall be prohibited to provide public financing or financial assistance for trade with, or investment in, Russia.

2. The prohibition in paragraph 1 shall not apply to:

(a) binding financing or financial assistance commitments established prior to 26 February 2022;

————— (c) the provision of public financing or financial assistance for trade in food, and for agricultural, medical or humanitarian purposes.

2a. By way of derogation from paragraph 1, the competent authorities may authorise, under such conditions as they deem appropriate, the provision of public financing or financial assistance up to the total value of EUR 10 000 000 per project benefiting small and medium-sized enterprises established in the Union.

3. It shall be prohibited to invest, participate or otherwise contribute to projects co-financed by the Russian Direct Investment Fund.

4. By way of derogation from paragraph 3, the competent authorities may authorise, under such conditions as they deem appropriate, an investment participation in, or contribution to, projects co-financed by the Russian Direct Investment Fund, after having determined that such an investment participation or contribution is due under contracts concluded before 2 March 2022 or ancillary contracts necessary for the execution of such contracts.

5. The Member State or Member States concerned shall inform the other Member States and the Commission of any authorisation granted under paragraphs 2a and 4 within two weeks of the authorisation.