A reminder on what is restricted so far
Since 2014, the EU has imposed several rounds of sanctions against Russia. Here are some of the restrictions in EU sanctions packages one to 12:
- Asset and travel freezes for high-profile individuals and those belonging to certain companies, institutions, or sectors.
- The SWIFT ban on 10 Russian banks
- Prohibition on supplying Euro notes to Russia
- Economic restriction on the transfer of funds or investments, including:
- The block on foreign investment from Russian people and of Russian companies from European people
- The restriction on providing crypto wallets to Russian people.
- Restrictions on the trade of commodities, including:
- Restriction on road transport operators, trailers, and semi-trailers registered in Russia.
- No access to Russia vessels in EU ports, including ship-to-ship transfers in EU waters.
- Restricted supply of exports to Russia in the aviation, marine, and space sectors.
- Prohibitions on services, such as IT, legal, marketing, advertising, financial, and other technical industries.
- The broadcasting of some Russian media outlets.
- Visa access for individuals of a particular profile.
- Oil and coal from Russia and the supply of related exports to Russia.
- The sanctions against Russian iron and steel.
- Imports of wood, paper, rubber, and plastics from Russia.
- Blocks on Russian transport, including:
- A closure of EU airspace to Russian aircraft
- Purchase, import, or transfer of non-industrial diamonds.
Additionally, the 12th package of EU sanctions against Russia imposed stricter definitions and penalties for circumvention in line with the crackdown on EU sanction violations.
What’s new in the 13th package of EU sanctions against Russia?
Included in the EU’s 13th sanctions package against Russia are another 194 designations, including 106 individuals and 88 entities. This takes the list of those sanctioned to over 2,000.
Amongst those sanctioned are individuals and entities from China, Korea, and other Asian countries because they are supplying technology to Russia.
Additionally, there is tightening of measures when exporting to some Asian countries, Türkiye, and former Russian shipping countries as there have been reports of circumvention. Reported individuals and entities are amongst those who have new designations in this sanctions package.
The EU’s 13th sanction package against Russia also adds controls on components used for the development and production of drones, such as electric transformers, static converters and inductors found inter alia in drones, and aluminium capacitors.
Need advice regarding the 13th sanctions package against Russia?
Customs Support is here for you. Operating in over 13 countries across Europe, we work with you to provide the local and international advice that you need to ensure that you remain compliant with current legislation.
If you need help with navigating the EU’s 13th package of sanctions against Russia, contact us for more information.
