💥 Rusak Trade Compliance News reports:
▶ The EU has adopted the 14th Package of EU Sanctions Against Russia.
➡ The EU remains focused on limiting Russia’s revenue sources and its ability to wage war, expressing strong support for Ukraine.
❗ Key Elements of the Sanctions Package 👉
⭕ Energy Sector Sanctions:
❌ Ban on future investments and exports for new LNG (liquefied natural gas) projects in Russia.
❌ After a nine-month transition period, a ban on the transshipment of Russian LNG through EU ports.
❌ Ban on the import of Russian LNG into terminals not connected to the EU gas pipeline network.
⭕ Maritime Sanctions:
❌ Introduction of port access and service prohibitions for vessels supporting Russia’s war efforts, including those transporting military equipment, stolen Ukrainian grain, and LNG components.
⭕ Financial Sanctions:
❌ Ban on the use of Russia’s SPFS financial messaging system for EU banks outside Russia.
❌ Third-country banks using SPFS will be prohibited from engaging with EU operators.
❌ Ban on transactions with banks and crypto asset providers in Russia and third countries that support the Kremlin’s financial channels.
⭕ Export Restrictions:
❌ New restrictions on dual-use goods and advanced technologies, including microwave amplifiers and flight data recorders.
❌ Expanded bans on the export of industrial goods, chemical products, vehicle parts, and manganese ore.
❌ Stricter export controls targeting 61 entities – based in Russia (28) and in third countries (33) – directly or indirectly linked to Russia’s military complex.
⭕ Import Bans:
❌ Extension of the import ban to helium, which is a significant revenue source for Russia.
⭕ Anti-Circumvention Measures:
❌ Strengthened strategies to limit Russia’s access to restricted goods and technologies.
❌ Measures to boost compliance in the private sector and support national authorities in enforcing sanctions.
❌ Initiatives to protect EU operators from expropriation and intellectual property theft.
⭕ Diamond Trade Clarifications:
❌ Adjustment of the ban on the import of Russian diamonds, with exceptions for diamonds already located in the EU or third countries before the ban.
❌ Temporary allowances for the import/export of jewelry for trade fairs or repairs.
❌ Extension of the transition period for the diamond traceability system until March 1, 2025, and postponement of the ban on jewelry containing Russian diamonds processed in third countries.
⭕ Protection of Democratic Processes:
❌ Ban on political parties receiving funding from the Russian state.
❌ Strengthening existing transport restrictions, including flight bans and road transport prohibitions.
👉 Source
