Adopts the seventh package of sanctions against the Russian Federation
21 Jul 2022
On 21 July 2022, the Council of the European Union expanded the scope of its sanctions against the Russian Federation. The new sanctions include:
- A gold import ban that includes a prohibition to purchase, import or transfer gold products and materials originated in or exported from the Russian Federation. The measures also prohibit the provision of technical assistance, brokering services, financing, and financial assistance related to these sectors;
- The extention of the port access ban for Russian flagged vessels to locks;
- An expansion of the export ban lists concerning items that may contribute to Russia’s military and technological enhancement or the development of its defence and security sector;
- The prohibition on accepting deposits was expanded to include those from legal persons, entities or bodies established in third countries and majority-owned by Russian nationals or natural persons residing in the Russian Federation;
- The exemption from the prohibition of certain transactions for agricultural products and the supply of oil and petroleum products to third countries.
In addition, the Council of the European Union added Sberbank to the assets-freeze sanctions list.
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Type:
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Entry and establishment (Other)
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Treatment and operation (Investment related trade measures)
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Industry:
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Not industry specific
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Primary (Agriculture, forestry and fishing, Mining and quarrying)
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Services (Transportation and storage, Financial and insurance activities, Other professional, scientific and technical activities, Administrative and support service activities, Other service activities)
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Sources:
