EU’s Latest Sanctions Package Imposes Embargo on Russian Energy; Additional Restrictions On Russian and Belarusian Dealings
Last Friday, the European Union adopted its sixth round of sanctions against Russia, including the highly anticipated ban on imports of Russian seaborne crude oil and petroleum products and the provision of related services, subject to certain exceptions. The European Union’s latest package also expands its ban on the provision of SWIFT interbank messaging network services, expands the EU dual-use export ban, prohibits the broadcasting or advertising of content from certain Russian media outlets to the European Union, prohibits the provision of various consulting services to Russia, and expands EU asset freeze restrictions. EU Energy Ban The latest EU sanctions package prohibits those subject to EU jurisdiction from directly or indirectly purchasing, importing, or transferring listed crude oil or petroleum products originating in, or exported from, Russia, subject to the exceptions below. Notably, the EU ban currently does not apply to imports by pipeline of CN 2709 00 crude oil into Member States. The direct or indirect provision by EU persons of related services, such as insurance, technical assistance, brokering services, or financing or financial assistance, is also prohibited. The list of products subject to the EU Energy Ban are set out in Annex XXV to Regulation (EU) No 833/2014, as amended. Specifically, the Annex describes the following two categories of energy products subject to the EU embargo, which are further defined by reference to the EU’s Combined Nomenclature (CN):
- CN Code 2709 00, Petroleum oils and oils obtained from bituminous minerals, crude; and
- CN Code 2710 00, Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations; waste oils.
- EU persons may continue conducting limited transactions for near-term delivery of energy products falling under CN 2709 00 until December 5, 2022; and
- EU persons may continue conducting limited transactions for near-term delivery of energy products falling under CN 2710 00 until February 5, 2023.
- Rossiya RTR / RTR Planeta;
- Rossiya 24 / Russia 24; and
- TV Centre International.
Tags: Russia sanctions