EU adopts new package of Russia sanctions - SAFETY4SEA - Safety4Sea

On 16 December 2022 the EU adopted the 9 bundle of Russian sanctions including a fig of Regulations and Decisions. Britannia P&I Club issued update to punctual cognition successful which circumstances the EU sanctions apply.

EU sanctions apply:

• within the territory of the EU, including its airspace
• on committee immoderate craft oregon immoderate vas nether the jurisdiction of a Member State
• to immoderate idiosyncratic wrong oregon extracurricular the territory of the EU who is simply a nationalist of a Member State
• to immoderate ineligible person, entity oregon body, wrong oregon extracurricular the territory of the EU, which is incorporated oregon constituted nether the instrumentality of a Member State
• to immoderate ineligible person, entity oregon assemblage successful respect of immoderate concern done successful full oregon successful portion wrong the EU.

The main sanctions which are applicable to the maritime assemblage are summarised below. All references to regulations successful brackets subordinate to EU Regulation 833/2014 (as amended).

In addition, a further 200 individuals and entities person been designated to the EU sanctions database meaning they are taxable to an assets freeze. This includes Russian equipped forces, defence concern companies, members of the Russian Parliament (State Duma and Federation Council) and governmental parties.

Dual-use goods & technologies

New export restrictions person been introduced connected dual-use goods and precocious technologies that tin lend to the method advancement of Russia’s defence and information sector. This includes a prohibition connected exporting drone engines, definite chemic and biologic equipment, riot power agents and physics components to Russia.

An further 168 entities person been added to the database of entities intimately linked to Russia’s subject and concern complex, to whom these tighter export restrictions apply. This includes definite Russian-controlled entities based successful Crimea oregon Sevastopol.

Steel products

The exemption which applies to the import prohibition connected alloy products into the EU that originate successful Russia oregon person been exported from Russia, has been somewhat amended (Art 3g). It is already prohibited to import alloy products into the EU (which includes the proviso of (re)insurance) which person been processed successful 3rd countries utilizing alloy originating from Russia (as listed successful Annex XVII) from 30 September 2023.

With regards to products falling nether CN codification 7224 90, this prohibition present applies from 1 October 2024. An exemption besides applies whereby the import oregon transport of goods falling nether CN codification 7224 90 is permitted up to a quota of 147,007 metric tonnes (MT) betwixt 17 December 2022 and 31 December 2023 and up to 110,255 MT betwixt 1 January 2024 and 30 September 2024.

Other cardinal products

It is already prohibited to transport goods and exertion (as listed successful Annex XXI) into the EU that make important revenues for Russia (Art 3i), which includes the proviso of (re)insurance. A wind-down play applies to products listed successful Part B of Annex XXI until 8 January 2023 for contracts concluded earlier 7 October 2022. A further upwind down play present applies with regards to goods falling nether CN codification 2905 11 (methanol) arsenic listed successful Part B of Annex XXI until 18 June 2023 for contracts concluded earlier 7 October 2022.

New export restrictions person been imposed connected goods which could lend to the enhancement of Russian concern capacities (Art 3k) (which includes the proviso of (re)insurance). This includes specified items arsenic generators, artifact drones, laptops, hard drives, IT components, nightvision and radio-navigation equipment, cameras and lenses.

A wind-down play applies with regards to goods falling nether CN codes 2701,
2702, 2703 and 2704 arsenic listed successful Part A of Annex XXIII, until 8 January 2023 for contracts concluded earlier 7 October 2022. A abstracted winddown play applies with regards to goods listed successful Part B of Annex XXIII, until 16 January 2023 for contracts concluded earlier 17 December 2022.

LNG condensates

It is not prohibited nether EU sanctions to transport Russian liquified earthy state (LNG). However a reporting work has been introduced (Art 3m and Art 3n) to guarantee that restricted earthy state condensate products are not transported into the EU oregon to 3rd countries. EU companies are required to pass the competent authorization of the EU Member State wherever they are located of the import oregon transport into the EU oregon to 3rd countries, of earthy state condensates falling nether CN codification 2709 00 10 from LNG accumulation plants, originating successful oregon exported from Russia.

Mining

The existing prohibition targeting caller investments successful the Russian vigor assemblage (Art 3a) has been extended by prohibiting caller investments successful the Russian mining sector, with the objection of mining and quarrying activities involving definite captious earthy materials.

Banking sector
Two Russian banks person been added to the EU sanctions list, the Bank of Moscow and Dalnevostochniy Bank. The Russian Regional Development Bank has been added to the database of Russian State-owned oregon controlled entities (Art 5aa) that are taxable to a afloat transaction ban.