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Sanctions update June 8

June 08, 2022

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)

New partners and counsel appointed at Vinge’s Malmö and Stockholm offices

Advokat Daniel Daun and advokat Victor Ericsson at Vinge’s Malmö and Stockholm offices respectively have been appointed as new partners as of 1 January 2023. Jacob Jeanrond, Caroline Krassén, Henrik Schön, Maria Dahlin Kolvik, Sara Strandberg and Linn Adelwald have been elected as counsel at Vinge’s Stockholm office.
June 30, 2022

COP26 - a step in the right direction to achieve the Paris Agreement goals

On 13 November 2021, the two-week international climate summit COP26, held in Glasgow, UK, was concluded after leaders from over 190 countries agreed on a new deal, the so-called Climate Pact in Glasgow. The aim of COP26 was for leaders from around the world to agree on how to step up global action to tackle the climate crisis. The agreement, which will set the global average temperature increase at between 1.8 and 2.4 degrees Celsius, is a step towards achieving the Paris Agreement's (COP21) more ambitious target of a maximum increase of 1.5 degrees.
June 23, 2022

The EU Court of Justice dismisses Belgium’s request in Opinion 1/20, but points out that the dispute settlement mechanism of ECT is not applicable to ‘intra-EU disputes’

The Energy Charter Treaty (ECT) is under renegotiation. Its Article 26, which provides a dispute settlement mechanism, has however not been announced as being subject to such renegotiations. On 2 December 2020, Belgium submitted a request to the EU Court of Justice (CJEU) for an opinion on whether the dispute settlement mechanism of the draft ECT, assuming it remains unchanged, could be interpreted as allowing its application intra-European Union, i.e. between an EU Member State and an investor who is a national of another Member State, and whether this would be compatible with the EU Treaties, in particular Article 19 TEU on the role of the CJEU and Article 344 TFEU on the autonomy of EU law.
June 17, 2022