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EU’s 14th package of sanctions against Russia

Please be informed that on the 24th of June 2024 the EU Council has adopted the 14th package of new economic sanctions against Russia. These measures are designed to target high-value sectors of the Russian economy, like energy, finance and trade, and make it ever more difficult to circumvent EU sanctions.

The new restrictions include:

  1. Energy: a ban on re-exports of Russian liquefied natural gas (LNG) in EU waters.
  2. Transport: measures against the shadow fleet moving Russian oil outside the price cap on Russian crude set by the Group of Seven (G7) nations.
  3. Import-export controls: the EU introduced further restrictions on exports of goods which contribute in particular to the enhancement of Russian industrial capabilities (e.g. chemicals, including manganese ores and compounds of rare-earths, plastics, excavating machinery, monitors and electrical equipment), as well as further restrictions on the import of helium from Russia, which is a source of significant revenues for the regime. Also, an extension of the export restrictions on dual use/advanced technology items (e.g., “quadbikes”, microwave and aerial amplifiers and digital flight data recorders), aiming to further weaken Russia’s military capabilities.
  4. Anti-circumvention: first of all, EU parent companies will be required to undertake their best efforts to ensure that their third-country subsidiaries do not take part in any activities resulting in an outcome that the sanctions seek to prevent. Second, in order to help counter the re-exportation of battlefield goods found in Ukraine or critical to the development of Russian military systems, it was decided that EU operators selling such battlefield goods to third countries will need to implement due diligence mechanisms capable of identifying and assessing risks of re-exportation to Russia and mitigating them. In addition, EU operators transferring industrial know-how for the production of battlefield goods to third-country commercial counterparts will now have to include contractual provisions to ensure that such know-how will not be used for goods intended to Russia.
  5. Further sanctions listings: 47 new entities and 69 individuals were added to the EU sanctions list, bringing the total to 2,200. Some of the listed entities are located in third countries (China, Kazakhstan, Kyrgyzstan, Türkiye, and the United Arab Emirates) and have been involved in the circumvention of trade restrictions and engaged in the procurement of sensitive items used for example in the production of drones or providing material support for Russian military operation.

For a total overview of the elements of the 14th package and a Questions and Answers overview, please see the following link: Q&A 14th package of restrictive measures against Russia ( Legal texts are to be published shortly.

For detailed information on the previous 13 packages of restrictive measures against Russia, please see: EU sanctions measures against Russia.

This publication is provided for your convenience and does not constitute legal advice.

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