EU imposes new round of sanctions on Russia
Earlier today, 6 October 2022, the EU adopted another package of sanctions on Russia, in the wake of escalated Russian aggression against Ukraine, and in particular the in particular the organising of the "sham referenda" and the illegal annexation of Ukrainian regions of Donetsk, Luhansk, Kherson and Zaporizhzhia.
The measures adopted today were largely in line with the EU Council's outlined proposal from last week (see our previous WR Sanctions Alert).
According to a press release from the EU council, the new sanctions package includes:
- Prohibition on providing maritime transport, as well as technical assistance, brokering services or financing or financial assistance, related to the maritime transport, to third countries of crude oil or petroleum products.
- There will however be price cap derogation from these restrictions, which allows the provision of such transport and services if the oil or petroleum products are purchased at or below a pre-established price cap.
- Additional import bans on certain Russian products, including on certain
- steel products
- wood pulp and paper
- elements used in the jewellery industry such as stones and precious metals.
- Prohibition on the sale, supply transfer or export of certain additional goods used in the aviation sector.
- Further designations of individuals and entities, including on
- those identified to have played a role in the illegal "referenda"
- representatives from the Russian defence sector
- well-known spreaders of disinformation about the war
- Increased efforts to crack down on circumvention by extending the listing criteria to target those who facilitate the circumvention of EU sanctions
- Extension of the list of restricted items that may contribute to Russia's military and technological enhancement or the development of its defence and security sector, including certain:
- electronic components
- additional chemicals
- goods that may be used for capital punishment, torture or other cruel, inhuman or degrading treatment
- Prohibition to sell, supply, transfer or export civilian firearms, as well as essential components and ammunition, military vehicles and equipment, paramilitary equipment, and spare parts
- Prohibition for EU nationals to sit on governing bodies of Russian state-owned companies
- The Russian Maritime Shipping Register has been added to the list of state-owned entities subject to a transaction ban
- Full ban on provision of crypto-asset wallet, account or custody services to Russian persons and residents
- Additional service bans to Russia of:
- architectural and engineering services
- IT consultancy services
- legal advisory services
- The geographical scope of the restrictions that were applied in February to the Donetsk and Luhansk oblasts, will now be extended to cover also the non-controlled areas of the oblasts Zaporizhzhia and Kherson.
The full text of the new sanctions package has as of yet not been published, but the relevant legal acts will soon be published in the Official Journal of the EU.
WR Sanctions Alerts provide you with updates on material developments in the country-specific sanctions programmes implemented by the US, the UN, the UK, the EU and Norway. We will not provide updates on mere prolongations, without material changes, of existing sanctions programmes, nor on any listings or de-listings of individuals/entities placed on implemented sanctions lists. Please note that the WR Sanctions Alerts are provided as general information and do not constitute legal advice.