Guidelines for compliance with the EU sanctions against Russia

Redbridge
What sanctions has the EU adopted so far?

  • Sanctions include targeted restrictive measures (individual sanctions), economic sanctions and visa measures. The EU has also adopted sanctions against Belarus and Iran.

Who is being sanctioned?

  • In total, also taking into account earlier individual sanctions imposed the EU has sanctioned 1.473 individuals and 207 entities.

What do sanctions on individuals and entities mean in practice?

  • Sanctions on individuals consist of travel bans and asset freezes. Sanctions on entities consist of asset freezes. Asset freezes are also prohibited to make any funds or assets directly or indirectly available to them.

How is the EU’s trade with Russia being sanctioned?

  • This means that European entities cannot sell certain products to Russia (export restrictions) and that Russian entities are not allowed to sell certain products to the EU (import restrictions).

What EU services to Russia are banned?

  • Legal advice, accounting, auditing, bookkeeping, tax consulting services, business and management consulting, public relations services, IT consultancy, architecture and engineering services, advertising, market research and public opinion polling services, as well as product testing and technical inspection services.

What does the oil ban mean in practice?

  • The Council adopted a sixth package of sanctions that, among others, prohibits the purchase, import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU. The restrictions apply for crude oil and for other refined petroleum products. A temporary exception is foreseen for imports of crude oil by pipeline into some EU member states. The oil price cap is fixed.

What are the sanctions on transport?

  • The EU has prohibited Russian and Belarusian road transport operators from entering the EU, including for goods in transit.

Aviation sector

  • All Russian aircraft are banned from overflying EU airspace. No access to EU airports for Russian carriers. The EU banned the export to Russia of goods and technology in the aviation and space industry.

Maritime transport

  • The EU has closed its ports to Russia’s entire merchant fleet of vessels. However, the measure does not affect vessels carrying some goods.

SWIFT ban for Russian banks

  • The ban prevents listed Russian banks from making or receiving international payments using SWIFT.

Sanctions against the Central Bank of Russia

  • The EU has prohibited all transactions with the Central Bank of Russia related to the management of the Russian Central Bank’s reserves and assets. As a result of the central bank asset freeze, the central bank can no longer access the assets it has stored in central banks and private institutions in the EU.

Media

  • The EU has also imposed sanctions on some media organisations and individuals.

What do EU sanctions against Russia NOT do?

  • The sanctions do not block the export of and transactions related to food and agricultural products. EU sanctions explicitly exclude food supplies and fertilisers. The EU has also made some other exceptions within its sanctions.