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EU’s 12th sanctions package against Russia

On 18 December 2023 the European Council has adopted the 12th sanctions package against Russia. The focus of this package is to impose imposes additional import and export bans on Russia, measures that combat sanctions circumvention and close loopholes.

According to the EU press release, the package includes the following key measures (EU adopts 12th package of sanctions against Russia (

  1. Additional Sanctions Listings:
    Over 140 additional individuals and entities subject to asset freezes. This covers important economic actors but also actors in the Russian military, defence and IT sector. Furthermore, actors are targeted that orchestrated the illegal “elections” in the occupied territories, that participated in the force “re-education” of Ukrainian children and actors involved in spreading propaganda promoting Russia’s war of aggression.
  2. Trade Measures:
    1. An import ban on Russian diamonds, more specifically on non-industrial diamonds from Russia. Moreover, raw materials for steel production, processed aluminium products and other metal goods will be subject to an import ban.
    2. Additional export restrictions on dual-use and advanced technological and industrial goods. In particular:
    – New export controls on dual use/advanced tech: chemicals, thermostats, DC motors and servomotors, machine tools and machinery parts.
    – New export bans on EU industrial goods, including machinery and parts, construction-related goods, processed steel, copper and aluminium goods, lasers, and batteries.
    – Addition of 29 Russian and third country entities, including entities registered in Uzbekistan and Singapore, to the list of entities associated to Russia’s military-industrial complex.
    – A prohibition to provide enterprise and design related software to the Russian government or Russian companies.
  3. Stricter Asset Freeze Obligations:
    New listing criterion that includes persons who benefit from the forced transfer of ownership or control over Russian subsidiaries of EU companies. Moreover, it will be possible to keep deceased persons on the asset freeze list and Member States face tighter obligations to proactively trace assets of listed persons.
  4. Energy Measures:
    The oil price cap is tightened by closer monitoring of the sale of tankers to third countries and the imposition of more detailed attestation requirements. Moreover, the package contains a new import ban on LPG.
  5. Stronger Anti-Circumvention Measures:
    The scope of transit prohibitions in place is broadened, moreover operators will be obligated to contractually prohibit re-export of certain categories of sensitive goods. Furthermore, a new measure is introduced that requires the notification of certain transfers of funds out of the EU from EU entities owned by more than 40% by Russians or Russian entities.
  6. Additional Measures:
    A set of derogations is introduced. Firstly, one allowing the EU Member States to decide to deprive in the public interest a listed person of funds or economic resources. Secondly, allowing compensation for damages to be paid by a newly listed insurance company, and thirdly, allowing the sale of EU companies by certain listed individuals or entities.

We recommend all businesses who are affected by sanctions and export control to familiarize themselves with these new sanctions and ensure that internal compliance procedures are adequate and up-to-date. In particular, those business who source raw materials for steel production, processed aluminium products and other metal goods, should carefully consider the impact of their business operations. Also, in view of anti-circumvention, businesses are obligated to contractually prohibit re-export of certain categories of sensitive goods.

The EU legal act has been published in the EU Official Journal: Council Regulation (EU) 2023/2878 of 18 December 2023 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine ( We expect the EU Commission will sone provide a consolidated version of Regulation (EU) No 833/2014.

This publication is provided for your convenience and does not constitute legal advice. Please also see our recent article on the sanction measures against Russia impacting the imports of iron and steel products: New sanction measures against Russia impact imports of iron and steel products (11th package)

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