EU Commission announces the fifth package of sanctions against Russia

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On 8 April 2022 the EU adopted a fifth package of sanctions on Russia, comprising of several Regulations and Decisions:

Council Regulation 2022/576 and Decision (CFSP) 2022/578, which:

  • prohibits to purchase, import or transfer coal and other solid fossil fuels into the EU if they originate in Russia or are exported from Russia, including in transit. Exception is available until 10 August 2022 (for contracts concluded before 9 April 2022).
    Further, derogations may be granted for transports that are deemed necessary for certain purposes (such as the purchase, import or transport of certain goods into the EU). It also introduces further export restrictions to Russia, in particular on jet fuel and other goods.
  • prohibits providing access after 16 April 2022 to ports in the EU to vessels registered under the flag of Russia (and to vessels that have changed their Russian flag or registration to the flag or register of other states after 24 February 2022). There are certain exceptions , e.g. humanitarian purposes. Derogations may be granted for port access that is deemed necessary for specified purposes (such as the purchase, import or transport of certain goods into the EU).
  • prohibits sale, supply, transfer or export as well as related technical and financial assistance to any person in Russia or for the use in Russia of jet fuel and certain fuel additives (as listed in Annex XX); and goods and technology which could contribute in particular to the enhancement of Russian industrial capacities (as listed in Annex XXIII).
  • prohibits purchase, import, or transfer into the EU, as well as financial assistance, if originating in Russia or exported from Russia, of goods which generate significant revenues for Russia, including (among other things) wood, cement, fertilisers and seafood (as listed in Annex XXI).
  • extends the exemption from the prohibition to engage in transactions with certain State-owned entities as regards transactions for the purchase, import or transport of fossil fuels and certain minerals into Switzerland, the European Economic Area and the Western Balkans.
  • extends the exemptions from the prohibition on transaction with certain Russian State-owned enterprises and their subsidiaries to countries in the European Economic Area and Switzerland as well as to the Western Balkans.

Council Regulation (EU) 2022/581 and Council Decision (CFSP) 2022/582, listed  an additional 216 individuals and 18 entities, including Bank Otkritie FC Bank; Novikombank; Sovcombank; VTB Bank and JSC GTLK State Transport Leasing Company.