The ban on the purchase of real estate in the EU by Russian citizens, considered earlier as one of the possible restrictive measures, has been excluded from the forthcoming new sanctions package, Bloomberg reported citing sources.

“The measure to ban Russians from buying real estate in the EU has been removed from the next version of the text of the document due to pressure from Cyprus,” the agency said in a statement.

Earlier in May, Bloomberg wrote that the European Union proposes to ban real estate transactions in the Union with citizens, residents and legal entities of the Russian Federation as part of new sanctions against Russia. The proposed ban was supposed to apply to Russians who are not EU citizens and do not have a residence permit in the countries of the Union. The measure did not apply to those who have citizenship or residence permits in the European Economic Area or Switzerland.