The Russian Federation at a meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) in Cyprus on May 10 unsuccessfully tried to achieve the abolition of restrictions on financing projects in Russia imposed in 2014, Ukrainian Finance Minister Oleksandr Danyliuk has said.

"At the meeting the absolute majority of shareholders supported the extension of restrictions on EBRD projects in Russia," the minister wrote in his Facebook blog.

According to him, the main argument of the Russian manager was the damage caused by these limitations for the development of the private sector of the Russian economy and, allegedly, their negative impact on the results of the EBRD's work.

Danyliuk said the situation when one shareholder of the EBRD carries out military aggression against another shareholder grossly violates the norms of international law and is unacceptable.

"In addition, Russia's military and economic aggression against Ukraine is harmful not only to Ukraine but also Russia, including the private sector, which the Russia representative so worried about," Danyliuk said, advocating the extension of the EBRD's restrictive measures against Russia.