EU Adopts More Russia Sanctions, Export Controls
The EU this week adopted new sanctions and export controls against Russia in an effort to tighten existing restrictions against the country for its war in Ukraine. The package imposes new bans on the purchase, import or transfer of gold originating in Russia and restricts more exports of dual-use technologies. The measures also extend the EU’s port access ban to better limit Russia’s ability to evade sanctions and expand the scope of restrictions surrounding certain deposits.
The ban on Russian gold, which also applies to jewelry, “effectively” targets the country’s “most significant export after energy,” said Josep Borrell, the EU’s foreign policy chief. The council also said the new restrictions on dual-use goods will better stem flows of items to Russia's military and technology sectors. Another measure will “strengthen” sanctions reporting requirements by placing the “burden of declaring assets onto sanctioned people,” the EU said.
The measures, which were adopted by the European Commission earlier this month (see 2207180015), also expand the scope of the restrictions on accepting deposits to include deposits from “legal persons” or entities set up in third countries and majority-owned by Russian nationals. Deposits for “non-barred cross-border trade” will now be subject to a “prior authorization” by individual EU member states, the commission said.
The EU also clarified how restrictions apply to certain service exports, including in public procurement. The bloc said it will allow technical assistance to Russia for aviation-related goods and technology only if the service is needed to “safeguard the technical industrial standard setting work” of the International Civil Aviation Organization. The EU also said its restriction on transactions with Russia entities will “be slightly amended to ensure access to justice.”
The bloc also extended an exemption for trade in certain agricultural and energy products with Russia. The exemption applies to certain state-owned entities, the EU said, and won't restrict trade and transport of agricultural products and oil to third countries.
The EU stressed that the restrictions don't “target in any way the trade in agricultural and food products, including wheat and fertilizers,” between third countries and Russia. “The EU is committed to avoiding all measures which might lead to food insecurity around the globe,” the council said.