Greece has suspended the issuance and renewal of residence permits for wealthy Russians investing in Greece until further notice, the migration ministry said, Reuters reported.

“New requests will not be accepted and no applications for the category ‘business executives’ for citizens of the Russian Federation will be considered,” the ministry said in a statement.

As part of its golden visa scheme, Greece is offering a renewable residence permit valid for five years in exchange for an investment of €250,000.

Migration Minister Notis Mitarakis said that around 2,500 residence permits have been issued to Russian citizens since the launch of the program in 2013, and since then Greece has attracted more than 3 billion euros of investments.