The EU has adopted a new package of sanctions against Russia. This is the eighth sanctions package imposed by EU.
All legislation introduced by the EU in relation to the latest package of sanctions can be found here.
The new sanctions package comprises:
- The sanctioning of 30 persons and seven entities that have played a role in the organization of illegal “referenda”, representatives of the defense sector, and well-known persons spreading disinformation about the war. The EU 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 defense 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.
- A broad prohibition to provide architectural and engineering services as well as IT consultancy services and legal advisory services to Russia.
- The package also 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, as follows:.
- As concerns trade, the EU is extending the import ban on steel products that either originate in Russia or are exported from Russia. Further import restrictions are also imposed on wood pulp and paper, certain elements used in the jewelry industry such as stones and precious metals, certain machinery and chemical items, cigarettes, plastics and finished chemical products such as cosmetics, that altogether generate significant revenues for Russia. The sale, supply transfer or export of additional goods used in the aviation sector will also be restricted.
- Additional wind-down periods for certain items/services.
- The EU also decided that as of the 6th of October, 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.