On February 24, 2023, the European Union (EU) adopted new sanctions against Russia. The sanctions include an export ban on even more parts that Russia can use for weapons. There are also new persons and entities on the sanctions list, and additional measures are being taken to prevent the circumvention of sanctions. This new package touches more than ?11 billion in Russia's trade volume.
The new EU sanctions against Russia
The new EU sanctions against Russia in brief are as follows:
- 121 persons and entities added to the sanctions list
The EU has added 121 persons and entities to the sanctions list. These include:
- persons responsible for the Russian abduction of Ukrainian children;
- individuals and organizations that facilitate the looting of Ukrainian resources;
- organizations involved in the Russian military and defense sector, for example developers of drones used against civilians and civilian infrastructure;
- key Russian decision-makers, military leaders, members and supporters of the Russian Wagner Group, senior government officials and parliamentarians;
- proxy authorities in the regions occupied by Russia;
- media organisations, and persons and entities responsible for spreading disinformation;
- three Russian banks, whose assets are frozen.
- the EU also imposes sanctions on Iranian individuals and entities associated with the supply of drones to Russia.
- New export bans have been imposed
The EU is introducing more bans on the export of certain goods such as electronics, industrial goods, specialized vehicles and parts for trucks and jet engines. In addition, new export bans have been imposed on goods that can be used for military purposes, such as parts that Russia can use for weapon systems such as drones, missiles and helicopters. Finally, restrictions have been placed on the export of certain rare commodities and thermal cameras.
- New import bans have been imposed
The EU has banned the import of synthetic rubber, bitumen and asphalt from Russia.
- Additional measures against circumvention of sanctions
The EU wants to make it even more difficult to circumvent the sanctions. One of the measures is a reporting obligation for frozen assets (and assets that must be frozen). This also applies to assets of the Russian Central Bank.
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