Capital Movement Restrictions in EU Law: Retrospective and Modern Approaches, Development Trends

Abstract

Summary This article addresses the issue of establishing the legal framework for freedom of capital movement in the EU, as well as the peculiarities of the current legal regulation of freedom of capital movement between EU Member States, as well as between them and third countries. Authors examine the issues of correlation between freedom of establishment and freedom of capital movement. The restrictions on capital movement between EU Member States and between them and third countries are characterized. The case law of Court of Justice of the European Union on key issues in this area is analysed. The main trends of capital flow restrictions at the present stage are outlined, such as those emerged amidst new realities, including the armed aggression of the Russian Federation against Ukraine, and its impact on the processes of capital flow liberalization in the EU.