The Council of the European Union has approved the 14th package of sanctions against Russia. They relate to energy, finance and trade, and will make it more difficult for Russia to circumvent sanctions.
This was reported on the website of the EU Council, Babel reports.
The sanctions list also includes 116 individuals and legal entities of the Russian Federation.
Our sanctions have already significantly weakened the Russian economy and prevented Putin from destroying Ukraine. The 14th package of sanctions demonstrates our unity in support of Ukraine and our desire to limit Russia’s criminal activities against Ukrainians, — said EU High Representative for Foreign Affairs and Security Policy Josep Borrell.
Energy
The European Union will ban transshipment services of Russian liquefied natural gas (LNG) in the EU for delivery to third countries (ship-to-ship, ship-to-ship and transshipment operations). This does not affect imports, but only re-exports to third countries via the EU. The European Commission will monitor the implementation and development of this decision. It may propose mitigating measures if necessary.
In addition, the EU bans new investments and supplies of goods, technology, and services to complete Russian LNG projects such as Arctic LNG 2 and Murmansk LNG.
Sanctions circumvention
EU companies must now ensure that their subsidiaries in third countries do not engage in any activities that help Russia circumvent sanctions.
To help counteract the re-export of munitions found in Ukraine or critical to the development of the Russian military complex, EU companies that sell such munitions to third countries must implement special “due diligence” mechanisms. They must identify and assess the risks of re-export to Russia and mitigate them.
Also, EU companies that transfer technology for the production of military goods to third-country partners must now sign an agreement to ensure that the transferred technology is not used for goods destined for Russia.
Finance
Among other things, the EU prohibits European companies from using Russia’s Financial Message Transfer System. Also, EU operators will be prohibited from conducting transactions with specifically designated entities that use the SFTS outside of Russia.
In addition, the EU is introducing a ban on transactions with targeted credit and financial institutions and crypto asset providers based outside the EU when these organizations facilitate transactions that support the Russian military-industrial base.
Financing of political parties and other organizations
Political parties and foundations, non-governmental organizations or media service providers in the EU will no longer be able to accept funding from Russia and its proxies.
Transportation
For the first time, the European Union has approved sanctions against specific vessels involved in Russia’s war against Ukraine. So far, there are 27 on the list.
The vessels may be sanctioned for transporting military equipment for Russia, transporting stolen Ukrainian grain, and delivering liquefied natural gas. The decision also applies to tankers that bypass EU and Price Cap Coalition restrictions, completely ignoring international standards.
The EU has also extended the ban on flights to the EU and the transportation of goods by road. In particular, landing, taking off or flying over the territory of the EU is prohibited for any aircraft used for irregular flights, and if a Russian individual/legal entity, organization or body can determine the place or time of its takeoff or landing, for the organization of, for example, a vacation or business meeting.
