The EU has just announced that additional sanctions against Crimea and Sevastopol have been approved to “reinforce the EU’s policy of not recognising their illegal annexation by Russia“. They will be published in the Official Journal tomorrow and take effect from 20 December.
The press release states that from 20 December:
1. Investment in Crimea and Sevastopol will be prohibited. Europeans and EU-based companies will be prevented from buying real estate or entities in Crimea, financing Crimean companies or supplying related services;
2. EU operators will not be permitted to offer tourism services in Crimea or Sevastopol. All ships owned or controlled by a European or flying the flag of an EU Member State, including cruise ships, will no longer be permitted to call at ports in the Crimean peninsula, except in case of emergency. Though, existing cruise contracts may be honoured until 20 March 2015;
3. The export of certain goods and technology concerning the transport, telecommunications and energy sectors and the prospection, exploration and production of oil, gas and mineral resources to Crimean companies or for use in Crimea will be prevented; and
4. Technical assistance, brokering, construction or engineering services related to infrastructure in the sectors set out in #3 above will also be prohibited.
We will update this post tomorrow once the relevant legislation has been published in the Official Journal.
