Expands the financial and trading restrictions against the Russian Federation
25 Feb 2022
On 25 February 2022, the European Union adopted Council Regulation 2022/328, which expanded the financial and trading restrictions against the Russian Federation. Among others, the measures included:
- Prohibition of the sale, supply, transfer or export of dual-use goods and technology and the provision of technical assistance and other related services as well as financing and financial assistance related to such goods and technology;
- Prohibition of the sale, supply, transfer or export to the Russian Federation of specific goods and technologies in oil refining, and introduction of restrictions on the provision of related services;
- Introduction of an export ban covering goods and technology suited for use in aviation and the space industry and prohibition of the provision of insurance, reinsurance and maintenance services in relation to those goods and technology. It also prohibited the provision of technical assistance, financing and financial assistance in relation to the goods and technology subject to this prohibition.
- Suspension of visa facilitation provisions, which allow privileged access to the EU, for Russian businesspeople.
Furthermore, the Regulation prohibited the listing and provision of services in relation to shares of Russian State-owned entities on Union trading venues.
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Type:
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Entry and establishment (Ownership and control)
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Treatment and operation (Operational conditions)
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Industry:
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Not industry specific
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Manufacturing (Manufacture of coke and refined petroleum products, Manufacture of transport equipment)
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Services (Transportation and storage, Financial and insurance activities)
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Sources:
