The EU adopted the 14th package of sanctions against Russia

The Council of the European Union adopted the 14th package of sanctions against Russia. They concern the spheres of energy, finance and trade, and will also make it more difficult for Russia to circumvent sanctions.

The press service of the Council of the EU writes about this.

116 individuals and legal entities of the Russian Federation were subject to restrictions. In particular, the EU imposed sanctions on the Russian singer Yaroslav Dronov (Shaman), Polina Gagarina, Ramzan Kadyrovʼs mother Aimani Kadyrova, actor Ivan Okhlobystin, founder of Telegram channels Mash and SHOT Aram Gabrelyanov, Commander-in-Chief of the Navy of the Russian Federation Alexander Moiseev, and also on Sovcomflot, Ural Airlines and Artek.

"Our sanctions have already significantly weakened the Russian economy and prevented Putin from destroying Ukraine. The 14th package of sanctions demonstrates our unity in support of Ukraine and the desire to limit Russiaʼs criminal activities against Ukrainians," said EU High Representative for Foreign Affairs and Security Policy Josep Borrell.

Energy

The European Union will ban transshipment services of Russian liquefied natural gas (LNG) on the territory of the EU for the purpose of delivery to third countries. This covers both ship-to-ship and ship-to-shore operations as well as transhipment operations. This does not affect imports, only re-exports to third countries through the EU. The European Commission will monitor the implementation and development of this decision. It can propose mitigating measures if necessary.

In addition, the EU prohibits new investments and supplies of goods, technologies and services to complete the projects of Russian LNG plants, such as Arctic LNG 2 and Murmansk LNG. Restrictions on the import of Russian gas through EU terminals not connected to the natural gas system will also be introduced.

Bypassing sanctions

EU companies must now ensure that their subsidiaries in third countries do not participate in any activity that helps the Russian Federation to circumvent sanctions.

In order to counter the re-export of munitions found in Ukraine or critical to the development of the Russian military complex, EU companies selling such munitions to third countries must implement special "due diligence" mechanisms. They should identify and assess the risks of re-export to Russia and reduce them.

Also, EU companies, if they transfer technologies for the production of goods for military purposes to partners from third countries, must now conclude an agreement to guarantee that the transferred technologies will not be used for goods intended for Russia.

Finances

Among other things, the EU prohibits European companies from using the Russian "Financial Reporting System". It will also be prohibited to carry out transactions with specifically specified entities that use SPFS outside of Russia.

The EU also prohibits transactions with targeted credit and financial institutions and crypto-asset providers based outside the EU when these entities facilitate transactions that support Russiaʼs military complex.

Financing of political parties and other organizations

Political parties and foundations, non-governmental organizations or media service providers in the EU will no longer be able to accept funding from Russia and its proxies.

Transport

For the first time, the European Union approved sanctions against specific vessels participating in Russiaʼs war against Ukraine. There are 27 of them on the list so far.

Vessels may be sanctioned for transporting military equipment for Russia, transporting stolen Ukrainian grain, and delivering LNG. The decision also applies to tankers that bypass EU and Price Cap Coalition restrictions, completely ignoring international standards.

The EU also extended the ban on flights within the EU and transportation of goods by car. In particular, the landing, take-off or flight over the territory of the EU is prohibited for any aircraft used for non-scheduled flights, and if a Russian natural/legal person, organization or body can determine the place or time of its take-off or landing, for the organization of, for example, recreation or a business meeting.