Further to our previous sanctions updates of 25 February, 3 March, 11 March, 16 March , 14 April and June 8, we herewith provide a further update of recent sanctions developments following Russia’s war against Ukraine:
On 21 and 22 July, EU expanded sanctions against Russia, and taking steps to enable transactions for agricultural products and transfer of oil to third countries, by way of adopting a seventh sanctions package with the following content:
With a view to avoid any potential negative consequences for food and energy security around the world, the EU extend the exemption from the prohibition to engage in transactions with certain state-owned entities as regards transactions for agricultural products and the transport of oil to third countries. In a statement, EU stress that none of the measures adopted today or earlier target in any way the trade in agricultural and food products, including wheat and fertilisers, between third countries and Russia. Similarly, EU reiterates that measures do not prevent third countries and their nationals operating outside of the EU from purchasing pharmaceutical or medical products from Russia.
The EU is also introducing a number of clarifications to existing measures, for instance in the field of public procurement, aviation and justice. For instance, technical assistance to Russia for aviation goods and technology will be allowed insofar as it is needed to safeguard the technical industrial standard setting work of the International Civil Aviation Organization, and the prohibition to enter into any transactions with Russian public entities will be slightly amended to ensure access to justice.
The relevant legislation can be found here:
Official Journal of the EU, 21 July 2022 (L193)
Official Journal of the EU, 21 July 2022 (L194)