Categories: Economy

EU sanctions on Russia

EU sanctions on Russia

The member states of the European Union (EU) approved the 11th sanctions package, which will prevent non-compliance with sanctions against Russia and bring additional restrictive measures.

The European Council announced that member states have officially approved the 11th package of sanctions against Russia due to the war.

Under the package, which was prepared to strengthen existing EU sanctions and prevent them from being circumvented, some loopholes in the restrictive measures will be closed.

Cooperation with third countries will be increased to avoid circumvention of sanctions.

Should cooperation initiatives fail, the EU will take swift and targeted action against third country institutions to prevent them from contributing to Russia.

EXCEPTIONAL MEASURES WILL ALSO BE APPLIED

Exceptional measures will be applied if EU measures continue to be circumvented despite individual negotiations and sanctions.

In this framework, the European Council may restrict the sale, supply, transfer or export of products and technologies that are prohibited from being sent to Russia to third countries. Third countries supplying Russia with products and technologies used on the battlefield while circumventing EU sanctions will be included in this scope.

The transit of more products and technologies that can contribute to the military and technological development, to the defense or security sector of Russia will be prohibited. Products and technologies from the aeronautics and space industry, as well as jet fuel and fuel additives exported from the EU to third countries will also fall under this scope.

Import and export controls and restrictions to Russia will also be expanded.

87 INSTITUTIONS TO BE ADDED TO THE LIST OF SANCTIONS

87 organizations that directly support Russia’s military-industrial complex will be placed on the EU sanctions list. These organizations will be subject to more stringent export restrictions, especially on products and technologies that have both civilian and military uses.

On the list will be organizations registered in China, Uzbekistan, the United Arab Emirates, Syria, and Armenia, which play a role in overcoming trade restrictions on Russia, and 4 Iranian organizations that provide UAVs to Russia.

The list of prohibited products that can contribute to the technological development of Russia’s defense and security sector will also be expanded. Electronic components, semiconductors, electronic circuit and board manufacturing equipment, various chemicals, optical components, metals, and navigational instruments and marine equipment will also be included in the prohibited list.

The scope of the ban on transporting goods to the EU by road with vehicles and trailers registered in Russia will be extended.

OIL TRANSFER BETWEEN SHIPS

Measures will also be taken against the increase in deceptive practices by ships that transport crude oil and petroleum derivatives. In this context, access to EU ports will be prohibited for those who transfer oil from one ship to another.

To be covered, it is enough that the authorities reasonably suspect that the vessel in question is violating the ban on importing Russian oil or petroleum products into the EU by sea, or that it is carrying products purchased above the maximum price.

The ban will also cover ships that, in violation of the rules, turn off or disable navigation systems while carrying Russian crude oil and petroleum products.

The temporary exemption granted to Germany and Poland for the supply of crude oil by pipeline from Russia under previous sanctions will expire. These countries will no longer receive Russian oil through the pipeline.

THE ASSETS ARE FROZEN

The package includes military officers, war-related decision makers, people involved in the deportation of Ukrainian children to Russia, judges making decisions against Ukrainian citizens, businessmen and companies providing critical technology and software to Russian intelligence, banks operating in the occupied territories. , and those who work with the Russian armed forces The assets of more than 100 individuals and organizations, including organizations, will be frozen.

The aforementioned 11th package of sanctions will enter into force after this stage, after its publication in the Official Journal of the EU.

The EU has implemented 10 sanctions packages against Russia so far.

Within this framework, a wide range of restrictions were applied to Russia on trade, finance, energy, including oil and coal, industry, technology, transportation, luxury and dual-use goods, and gold. The assets of more than a thousand people and more than 200 institutions were frozen. (AA)

Source: Sozcu

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