This news item includes a summary of the sanctions packages adopted by the European Union against Russia for the Ukraine crisis.
**All these EU measures will come into force immediately.
Council REGULATION (EU) 2022/262 of 23 February 2022 amending Regulation (EU) No. 833/2014 on restrictive measures in view of Russia’s actions destabilizing the situation in Ukraine .
Article 1
1. It is prohibited, directly or indirectly, to buy, sell, provide investment services or assist in the issuance or trading of transferable securities and money market instruments issued after March 9, 2022 by:
(a) Russia and its government; or (b) the Central Bank of Russia; or c) a legal person, entity or body acting on behalf of or under the direction of the entity mentioned in letter b).
2. It is prohibited to directly or indirectly make or be part of any agreement to make new loans or credits to any legal person, entity or body mentioned in paragraph 1 after February 23, 2022.
Council REGULATION (EU) 2022/263 of February 23, 2022 on restrictive measures in response to the recognition of the areas of the Donetsk and Luhansk oblasts not controlled by the government of Ukraine and the sending of the Russian armed forces to those areas.
Article 2
It’s forbidden:
(a) import into the European Union goods originating in the specified territories;
(b) provide, directly or indirectly, financing or financial assistance, as well as insurance and reinsurance related to the importation of the goods.
The prohibitions of section 1 shall not apply with respect to: (a) the execution until May 24, 2022 of commercial contracts entered into before February 23, 2022, or of ancillary contracts necessary for the execution of said contracts, provided that the natural or legal person, entity or body that intends to carry out the contract has notified, at least 10 business days in advance, the activity or operation to the competent authority of the Member State in which they are established; (b) goods originating in the specified territories that have been made available to the Ukrainian authorities for examination, for which compliance with the conditions giving right to preferential origin has been verified and for which a certificate of origin has been issued in accordance with the EU-Ukraine Association Agreement.
Article 3
It’s forbidden:
(a) acquire any new property or extend any existing ownership interest in real property located in the specified territories;
(b) acquire any new interests or expand any existing interests in the ownership or control of entities in the specified territories, including the total acquisition of said entity or the acquisition of shares in it, and other securities of a participatory nature of said entity; (c) grant or be a party to any agreement to grant any loan or credit or otherwise provide financing, including share capital, to an entity in the specified territories, or for the documented purpose of financing such entity; (d) create any joint venture in the specified territories or with an entity in the specified territories; Provide investment services directly related to the activities referred to in letters a) to d). The prohibitions and restrictions set forth in this article shall not apply to the conduct of legitimate business with entities outside the specified territories, provided that the related investments are not intended for entities in the specified territories. The prohibitions of section 1 shall be understood without prejudice to the execution of an obligation derived from a contract concluded before February 23, 2022, or from accessory contracts necessary for the execution of said contract, provided that the competent authority has been informed with the least five business days in advance.
Article 4
It is prohibited to sell, supply, transfer or export goods and technology listed in Annex II:(a) to any natural or legal person, entity or body in the specified territories, or (b) for use in the specified territories. Annex II will include certain goods and technologies suitable for use in the following key sectors:
(i) transportation;
(ii) telecommunications;
(iii) energy;
(iv) prospecting, exploration and production of oil, gas and mineral resources.
It is prohibited: (a) to provide, directly or indirectly, technical assistance or brokerage services related to the goods and technology listed in Annex II, or related to the supply, manufacture, maintenance and use of such items to any natural or legal person , entity or agency in the specified territories or for use in the specified territories; (b) provide, directly or indirectly, financing or financial assistance related to the goods and technology listed in Schedule II to any natural or legal person, entity or body in the specified territories or for use in the specified territories. The prohibitions of sections 1 and 2 shall be understood without prejudice to the execution until August 24, 2022 of an obligation derived from a contract entered into before February 23, 2022, or of accessory contracts necessary for the execution of said contracts, provided that the competent authority has been informed at least five business days in advance.
Article 5
It is prohibited to provide technical assistance, brokerage, construction or engineering services directly related to the infrastructure in the specified territories. in the sectors referred to in Article 4, paragraph 1, as defined on the basis of Annex II, regardless of the origin of the goods and technology. The prohibition of section 1 shall be understood without prejudice to the execution until August 24, 2022 of an obligation derived from a contract entered into before February 23, 2022, or of accessory contracts necessary for the execution of said contract.
Article 6
It is forbidden to provide services directly related to tourist activity in the specified territories. The prohibition of section 1 shall be understood without prejudice to the execution until August 24, 2022 of an obligation derived from a contract or accessory contract entered into before February 23, 2022, or from accessory contracts necessary for the execution of said contracts, provided that the competent authority has been informed at least five business days in advance.
Article 7
The competent authorities may grant, under the terms and conditions they deem appropriate, an authorization in relation to the activities referred to in articles 3, section 1, and 4, section 2, and with the goods and technology referred to. Article 4, paragraph 1, provided that they are:
(a) necessary for official purposes of consular missions or international organizations enjoying immunities in accordance with international law located in the specified territories; (b) related to projects exclusively in hospital support or other public health institutions that provide medical services or civil education establishments located in the specified territories; or
(c) apparatus or equipment for medical use.
Article 12
The Commission shall be empowered to amend Annex I on the basis of the information provided by the Member States. ————————————————– ————————————————– ————————- The European Commission informs importers that the necessary conditions are met for the Ukrainian customs authorities to effectively manage and control the preferential tariff treatment provided for in the Association Agreement between the European Union and its Member States, on the one hand, and Ukraine, on the other hand, are not in force for goods produced or exported from areas not controlled by the government of the Donetsk and Lugansk oblasts of Ukraine. Therefore, operators in the European Union are advised not to apply for preferential treatment for the importation into the Union of all goods produced or exported from the non-government controlled areas of the Donetsk and Lugansk oblasts of Ukraine, given that the release for free circulation of these goods gives rise to a customs debt from the date of publication of this notice. You can download the full texts at the bottom of this news. *Source: CEOE.
