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Sanctions update June 8

June 08, 2022 Sanctions

Further to our previous sanctions updates of 25 February, 3 March, 11 March, 16 March and 14 April we herewith provide a further update of recent sanctions developments following Russia’s war against Ukraine:

Sanctions update April 14, Sanctions update March 16Sanctions Newsletter update 11 of MarchSanctions newsletter of 3 of MarchSanctions newsletter of 25 of February 

EU adopts a sixth sanctions package


On 3rd June, EU issued five new regulations which amend Council Regulation 2014/833 and expand the sanctions against Russia and Belarus as follows:


Oil

  • A rather complicated prohibition commencing on 5 December 2022 and 5 February 2023 (depending on the HS code) as to the purchase, import or transfer of crude oil and certain petroleum products from Russia into the EU by maritime transportation. Import etc. of certain oil products by pipeline is exempted from the prohibition until the Council decides otherwise. In addition, Bulgaria and Croatia enjoy specific exceptions.
  • Prohibition to provide (re)insurance for maritime transportation of crude oil and certain petroleum products from Russia to third countries

 

De-SWIFTing of additional Russian and Belarusian banks

  • Extension of the existing prohibition on the provision of specialised financial messaging services (SWIFT) to three additional Russian credit institutions - Russia's largest bank Sberbank, Credit Bank of Moscow, and Russian Agricultural Bank - and the Belarusian Bank For Development And Reconstruction.

 

Broadcasting

  • Suspension the broadcasting activities in the EU of three more Russian state-owned outlets: Rossiya RTR/RTR Planeta, Rossiya 24 / Russia 24 and TV Centre International

 

Export restrictions

  • Expansion of the list of persons and entities concerned by export restrictions regarding dual-use goods and technology. Such additions to the list include both Russian and Belarusian entities
  • Expansion of the list of goods and technology which may contribute to the technological enhancement of Russia’s defence and security sector. This includes 80 chemicals which can be used to produce chemical weapons.

 

Consulting services

  • Prohibition of the provision of accounting, public relations and consultancy services.

 

Individual listings

  • Adding additional individuals and entities to the asset freeze list which now comprises of 1158 individuals and 98 entities.

 

Swedish court holds that Dockworker’s ban against Russian operated vessels is illegal

On 28 March, the Swedish Dockworker’s association imposed a ban from calling Swedish ports against vessels sailing to and from Russia, vessels carrying Russian cargo and vessels operated by Russian interests (as well as vessels flying the Russian flag). The ban goes beyond the relevant EU sanctions in Council Regulation 833/2014 Article 3ea, which only targets Russian flagged vessels and, in addition contains several exceptions. The Dockworker’s ban has been challenged in court by the employer association, The Ports of Sweden. On 1 June the Swedish Labour Court issued a decision holding that the ban is unlawful. The decision can be read here (in Swedish)

The wide reach of the prohibition against circumventing EU sanctions

Against the background of Russia’s invasion of Ukraine, the EU has imposed a number of sanctions, which include a prohibition for companies within the EU to take certain measures in relation to Russia, as well as designated Russian people and entities on the sanction lists. Furthermore, a prohibition to circumvent the sanctions has been introduced in order to ensure that the sanctions are effective also in practice. When it comes to this circumvention prohibition, it is important to be aware of its wide interpretation, as established by the Court of Justice of the European Union and the European Commission.
October 31, 2022 Sanctions

Sanctions update 14 October

Further to our previous sanctions updates of 25 February, 3 March, 11 March, 16 March , 14 April and June 8 and 22 July, we herewith provide a further update of recent sanctions developments following Russia’s war against Ukraine:
October 14, 2022 Sanctions