EU adopts further sanctions against Russia

In response to Russia’s escalating war of aggression against Ukraine and the illegal annexation of Ukraine’s Donetsk, Luhansk, Zaporizhzhia and Kherson regions, the European Council has announced a new package of economic and individual sanctions against Russia.

The agreed package includes a series of biting measures intended to reinforce pressure on the Russian government and economy, weaken Russia’s military capabilities, and make the Kremlin pay for the recent escalation.

The Council commented that the new sanctions package against Russia is proof of its determination to stop Putin’s war machine and respond to his latest escalation with fake “referenda” and illegal annexation of Ukrainian territories. Its objective is to further damage Russia’s war economy, limit Russia‘s import/export capacities and decrease Russian energy dependence.

The package introduces into the EU legislation the basis to put in place a price cap related to the maritime transport of Russian oil for third countries and further restrictions on the maritime transport of crude oil and petroleum products to third countries.

The complete sanction package includes:

• the sanctioning of individuals and entities that have played a role in the organisation of illegal “referenda”, representatives of the defence sector, and well-known persons spreading disinformation about the war. The Council also decided to broaden the listing criteria on which specific designations can be based, in order to include the possibility to target those who facilitate the circumvention of EU sanctions
• the extension of the list of restricted items which may contribute to Russia’s military and technological enhancement or the development of its defence and security sector. The list will now include certain electronic components, additional chemicals and goods that can be used for capital punishment, torture or other cruel, inhuman or degrading treatment
• a prohibition to sell, supply, transfer or export civilian firearms and their essential components and ammunition, military vehicles and equipment, paramilitary equipment, and spare parts
• a ban on EU nationals to hold any posts on the governing bodies of certain Russian state-owned or controlled legal persons, entities or bodies
• the insertion in the list of state-owned entities that are subject to the transaction ban of the Russian Maritime Shipping Register, a 100% State-owned entity which performs activities related to the classification and inspection, including in the field of security, of Russian and non-Russian ships and crafts
• a full ban of the provision of crypto-asset wallet, account or custody services to Russian persons and residents, regardless of the total value of those crypto-assets
• the prohibition to provide architectural and engineering services as well as IT consultancy services and legal advisory services to Russia

The Council also decided that as of today, the geographical scope of the restrictions introduced on 23 February, including notably the import ban on goods from the non-government controlled areas of the Donetsk and Luhansk oblasts, will be extended to cover also the non-controlled areas of the oblasts of Zaporizhzhia and Kherson.