Sanctions updates / 23 Dec 2014

SANCTIONS UPDATE – EU Has Expanded Its Crimea and Sevastopol Sanctions on Russia

The EU Council has widened the scope of restrictive measures with the Council Regulation (EU) No 1351/2014 and Council Decision 2014/933/CFSP20, which entered into force December 2014.

Sanctions restricting trade with Crimea and Sevastopol were expanded to concern new specified goods and technologies listed in Annex to Regulation (EU) No 1351/2014.

The new measures further prohibit providing such services that are directly relating to infrastructure in Crimea and Sevastopol with regard to the transport, communications, telecommunications, energy, and oil, gas and mineral exploration sectors.

The previous prohibited investment measures were expanded to cover any entity and ownership in real estate in Crimea and Sevastopol.

Additionally a new ban on providing services directly relating to tourism activities in Crimea and Sevastopol has been introduced.

The European Commission has published a Commission Guidance note on the implementation of certain provisions of Council Regulation (EU) No 833/2014. The aim of this note is to provide guidance on the application and for the purpose of uniform implementation of certain provisions of Council Regulation by national authorities and parties concerned. The Guidance note clarifies certain restrictive measures and their content and can be found at: http://europa.eu/newsroom/files/pdf/c_2014_9950_en.pdf

Additional information

Ulla von Weissenberg (Finland)
Andrei Gusev (Russia)
Jarno Vanto (New York)

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