The European Commission has announced the adoption of a 12th package of sanctions against Russia, reflecting a coordinated effort to impose additional import and export bans, combat sanctions circumvention, and close existing loopholes. This comprehensive package holds specific focus on key elements to reinforce the impact of the sanctions.
The significant components of this 12th package are outlined below:
Additional Listings
– Over 140 additional individuals and entities subject to asset freezes, covering actors in the Russian military, defence, IT sector, and other important economic domains.
– Targeting those involved in illegal activities in Ukraine and those responsible for spreading disinformation in support of Russia’s aggression against Ukraine.
Trade Measures
– Import ban on Russian diamonds and other raw materials for steel production and processed aluminium products.
– Export restrictions on dual-use and advanced technological and industrial goods with a particular emphasis on weakening Russia’s military capabilities.
– Prohibition to provide enterprise and design-related software to the Russian government or Russian companies.
Stricter Asset Freeze Obligations
– Introduction of a new listing criterion to include persons who benefit from the forced transfer of ownership or control over Russian subsidiaries of EU companies.
– Tighter obligation for Member States to proactively trace assets of listed persons to prevent circumvention of sanctions.
Energy Measures
– Tightening of the international G7+ oil price cap by introducing new measures to more closely monitor the sale of tankers and a new import ban on liquified petroleum gas.
Stronger Anti-Circumvention Measures
– Broadening the scope of the transit prohibition through Russia and the obligation for operators to restrict re-export of certain categories of sensitive goods to Russia.
– Introduction of a new measure to require the notification of certain transfers of funds out of the EU from EU entities with majority Russian ownership.
Additional Measures
– Introduction of new derogations to allow for specific cases in which Member States decide to deprive a listed person of funds or economic resources, allow compensation for damages to be paid by a newly listed insurance company, and permit the sale of EU companies owned by certain listed individuals or entities.
Background
As a response to Russia’s unjustified military aggression against Ukraine, these sanctions stand as a testament to the EU’s unwavering support for Ukraine. The EU continues to ensure that its sanctions do not impact energy and agrifood exports from Russia to third countries, emphasizing efforts toward a just and lasting peace.
The European Commission actively monitors the enforcement of EU sanctions and has observed anomalous trade figures that highlight Russia’s active attempts to circumvent sanctions. As a result, both internal and external efforts are being reinforced to combat circumvention and ensure the efficacy of these measures.
For more information on the latest sanctions and related updates, as well as a detailed Q&A and official journal, visit the European Commission’s official website.
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