Adopts the twelfth package of sanctions against the Russian Federation
19 Dec 2023
On 18 December 2023, the European Union adopted the twelfth sanctions package against the Russian Federation. The new restrictions include additional measures such as asset freezes on economic entities across a range of industrial sectors (e.g. defence, IT, media, aviation etc.).
In addition, starting from 1 May 2024, European Union entities owned over 40 per cent by Russian individuals or entities must report transfers exceeding €100 thousands outside of the European Union. This reporting to the relevant authority is required within two weeks after each quarter's end.
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Type:
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Treatment and operation (Investment related trade measures)
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Treatment and operation (Capital transfer and FOREX)
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Industry:
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Primary (Mining and quarrying)
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Manufacturing (Manufacture of coke and refined petroleum products, Manufacture of basic metals)
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Services (Financial and insurance activities, Administrative and support service activities, Other service activities)
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Sources:
