EU imposes 14th package of sanctions against russia

The Council of the European Union approved the 14th package of sanctions against russia.

The package prohibits the use of EU ports as transshipment points for further shipment of russian LNG to third countries, such as Asia, and the investment of European companies in LNG projects in russia, such as the port of Murmansk.

Meanwhile, purchases of pipeline gas from Gazprom and imports of russian LNG to the European Union remain unaffected by sanctions.

The EU has also provided for a number of innovations to combat russia's circumvention of previously imposed sanctions - when Western products are purchased not directly from their producers, but through intermediaries in other countries, such as Turkey or Kazakhstan.

It is noted that companies in the EU will have to "make every effort" to ensure that their subsidiaries in third countries do not engage in any activities that would lead to the circumvention of sanctions.

In addition, EU operators selling military goods to third countries must implement "due diligence" mechanisms that can identify, assess and mitigate the risks of re-export to russia. In addition, EU operators that transfer advanced developments for the production of military goods to third-country partners will have to include in their contracts an obligation not to supply such goods to russia.

EU companies are also now prohibited from using the Central Bank of russia's Financial Messaging System (FMS), the russian equivalent of the international payment system SWIFT.

In addition, the EU has banned political parties, non-governmental organizations and media in the EU from accepting funding from russia and its proxies.

Among other things, the EU has imposed sanctions on 27 ships, which, in particular, are involved in the transportation of military equipment for russia and stolen Ukrainian grain. They are banned from accessing EU ports.

Restrictions on flights to the EU for companies and individuals from the russian federation have also been extended. From now on, the ban on landing, taking off or flying over the EU territory will also apply to all aircraft used for irregular flights. The ban on the transportation of goods by road within the EU has been extended - EU operators that are 25 percent or more owned by russian individuals or legal entities will no longer be able to transport goods.

In addition, the EU added 61 new companies to the list of those directly supporting russia's military-industrial complex in the war against Ukraine. They will be subject to stricter export restrictions. Some of these companies are located in third countries.

Restrictions on the export of goods that contribute to the growth of russia's industrial potential have also been expanded. In particular, these include chemicals, including manganese ores and rare earth metal compounds, plastics, earthmoving equipment, monitors, and electrical equipment. Restrictions on imports of helium from russia have also been tightened.

The sanctions lists include 116 individuals and legal entities responsible for actions that "undermine or threaten the territorial integrity, sovereignty and independence of Ukraine."

The sanctions will come into force once they are published in the EU's Official Journal. The Rada promised that this would happen soon.

Source: Council of the EU Press Release