18 December 2023

...Trade measures

• Import ban on Russian diamonds: import restrictions on non-industrial diamonds, mined, processed, or produced, in Russia. These proposed sanctions are part of an internationally coordinated G7 diamond ban, aiming to deprive Russia of this important revenue stream estimated at €4 billion per year...
• Import ban on raw materials for steel production, processed aluminium products and other metal goods: new measures restricting imports from Russia of certain metal goods
• Export restrictions: additional export restrictions on dual-use and advanced technological and industrial goods worth €2.3 billion per year
• New export controls on dual use/advanced tech, aiming to further weaken Russia's military capabilities, including chemicals, thermostats, DC motors and servomotors for unmanned aerial vehicles (UAV), machine tools and machinery parts
• New export bans on EU industrial goods, to further hamper Russia's capacities in its industrial sector, including machinery and parts, construction-related goods, processed steel, copper and aluminium goods, lasers, and batteries.
• Addition of 29 Russian and third country entities to the list of entities associated to Russia's military-industrial complex (including entities registered in Uzbekistan and Singapore)
• Prohibition to provide enterprise and design-related software to the Russian government or Russian companies. The aim is to further hamper Russia's capacities in its industrial sector. Restrictions in the area of services are an area where we have worked closely with our international partners, including the US and the UK...

Energy measures

• Oil price cap: To make it more difficult for Russia to sustain the war, we have tightened the international G7+ oil price cap, by introducing new measures to more closely monitor the sale of tankers to third countries, as well as require more detailed attestation requirements...
• New import ban on liquified petroleum gas (LPG), impacting annual imports worth over €1 billion, with grandfathering of existing contracts for a period of maximum 12 months

Stronger anti-circumvention measures

• Broadening of the scope of the transit prohibition through Russia by adding certain economically critical goods when these are intended for export to third countries
• Obligation for operators to contractually prohibit the re-export of certain categories of sensitive goods to Russia, including goods related to aviation, jet fuel, firearms and goods on the common high priority list
• Introduction of a new measure that will require the notification of certain transfers of funds out of the EU from EU entities directly or indirectly owned by more than 40% by Russians or entities established in Russia...