7 September 2023
The Court of Justice of the European Union refused to satisfy the claims of the following Russian entrepreneurs for their exclusion from the sanctions lists:
- Businessman and former owner of Pipe Metallurgical Company Dmitry Pumpyansky, his wife Galina and son Alexander (cases T-270/22, T-272/22, T-291/22);
- Co-owner of Novatek and Sibur Gennady Timchenko and his wife Elena (cases T-252/22, T-361/22);
- Former Managing Director of Yandex Tigran Khudaverdyan (case T-335/22);
- Businessman Mikhail Gutseriev (case T-526/21).
The EU Court decided to lift sanctions against former Ozon CEO Alexander Shulgin (case T-364/22). Sanctions against Shulgin were introduced in April 2022, and a few days after their introduction, Shulgin left his post as CEO and resigned from the board of directors of the company. Alexander substantiated his claim to the EU court by the fact that he is no longer related to the company.
It is noteworthy that the former managing director of Yandex, Tigran Khudaverdyan, was denied the lifting of sanctions despite the fact that he also left his position as managing director. What is the difference between the case of Alexander Shulgin and the case of Tigran Khudaverdyan?
In 2019, Khudaverdyan joined the Board of Directors of the Public Interest Foundation and left this position only on 13 April 2023. The fund has the right to appoint two directors to the board of directors of Yandex, has the right to veto over the sale of more than 10% of the shares and indirect control over decisions regarding the provision of direct access to the personal data of Russian users. On 15 March 2022, Khudaverdyan also received the position of a “consultant” in one of the companies of the Yandex group, that is, after being included in the sanctions list and leaving the post of managing director of Yandex. Thus, the court concluded that Khudaverdyan retained his influence over Yandex's decisions.
Dmitry Pumpyansky also withdrew from the beneficiaries and members of the Board of Directors of the Pipe Metallurgical Company, but in the decision the court upheld the conclusions of the EU Council and indicated that Pumpyansky is a major businessman in the economic sector (energy, transport, construction), bringing significant income to the Russian Federation.
See: EU Court of Justice press release https://curia.europa.eu/jcms/upload/docs/application/pdf/2023-09/cp230132en.pdf. You can find decisions for each case at https://curia.europa.eu/
Nadmitov, Ivanov & Partners Law Firm advises clients on sanctions legislation.
23 June 2023
On June 23, 2023, the EU Council adopted the 11th package of sanctions against Russia, which includes the following measures:
1. TRADE MEASURES
- A new tool against sanctions circumvention that will allow the EU to restrict the sale, supply, transfer, or export of certain sanctioned goods and technologies to certain third countries and jurisdictions deemed to be at a constant and particularly high risk of sanctions circumvention. This new tool will be an exclusive and ultimate measure when individual measures and EU clarification work with the relevant third countries are insufficient.
- Extension of the ban on the transit of certain goods (such as advanced technologies, materials related to aviation) exported from the EU to third countries through Russia.
- Addition of 87 new organizations to the sanctions list of those who provide direct support to the Russian military-industrial complex. More stringent restrictions on the export of dual-use goods and advanced technologies will be imposed on these individuals.
- Restriction on the export of another 15 technologies or equipment necessary for the production of such items.
- Tightening restrictions on the import of iron and steel goods: the requirement for sub-sanction importers of iron and steel that have been processed in a third country to prove that the raw materials used do not come from Russia.
- Ban on the sale, licensing, transfer of intellectual property rights and trade secrets used in connection with restricted access goods.
- Extending the ban on the export of luxury cars to all new and used cars with an engine capacity above a certain limit (> 1,900 cc), as well as all electric and hybrid cars.
- A complete ban on certain types of machine components.
- Simplification of the structure of the industrial goods annex by including goods subject to restrictions in one section and using broader definitions of goods for better identification.
2. TRANSPORT MEASURES
- A complete ban on the transportation of goods to the EU by trucks with Russian trailers and semitrailers.
- Ban on access to EU ports for vessels involved in ship-to-ship transfers suspected of violating the ban on the import of Russian oil or G7 coalition price restrictions.
- Ban on access to EU ports for vessels that have not notified the competent authority at least 48 hours in advance of a ship-to-ship transfer occurring within the exclusive economic zone of an EU member state or within 12 nautical miles from the baseline of that EU member state's coast.
- Ban on access to EU ports for vessels that manipulate or disable their tracking navigation system during the transportation of Russian oil subject to the ban on oil imports or G7 price restrictions.
3. ENERGY MEASURES
- Termination of the possibility of importing Russian oil through a pipeline for Germany and Poland.
- Introduction of strict and highly targeted exemptions from existing export bans to ensure the ability to service the CPC pipeline (Caspian Pipeline Consortium), through which Kazakh oil is transported to the EU through Russia.
- Extension of the exemption from the maximum price for Sakhalin oil for Japan (until March 31, 2024).
4. EXPANSION OF THE SANCTIONS LIST
Over 100 more individuals and legal entities have been added to the EU sanctions list, and their assets have been frozen.
5. ADDITIONAL CLARIFICATIONS
- Revision of the criteria for including individuals/organizations engaged in circumventing EU sanctions, including those significantly worsening EU sanctions.
- Addition of a new criterion for including individuals and legal entities working in the Russian IT sector and holding a license from the Federal Security Service of Russia or the Ministry of Industry and Trade of Russia.
- Development of an exception allowing the sale of property rights in a Russian joint venture in which a listed person is a co-owner.
- Development of an exception allowing the disposal of certain types of securities owned by certain listed individuals.
- Some clarifications to the provision on information exchange between competent authorities and on confidentiality of communication between lawyers and their clients in the context of reporting obligations.
- Development of an exception allowing the provision of services necessary to create a firewall that eliminates a listed person's control over EU organization assets.
- Development of an exception for providing pilot services in exceptional circumstances.
6. OTHER
- Extension of the ban on media for 5 additional channels.
- Additional provisions on information exchange and reporting.
- Inclusion of a temporary derogation for the provision of prohibited services that are legally required to withdraw Russian operators from the EU.
5 June 2023
On June 5, 2023, the EU Council adopted Decision No. 2023/1094, which expanded the criteria for imposing blocking sanctions against Russian businessmen. Amendments were made to Article 1 (1)(e), Article 2(1), point (g) of EU Council Decision No. 2014/145/CFSP, and Article 3(1)(g) of EU Council Regulation No. 269/2014.
According to these changes, sanctions can now be imposed against leading businessmen working in any economic sector in Russia, their family members and individuals who interact with these businessmen to circumvent sanctions, known as "beneficiaries of their activities."
Previously, inclusion in the sanctions list was possible if the person was a leading businessman, legal entity, body, or organization in sectors of the economy that provide a significant source of income to the Government of the Russian Federation. The EU Council Decision No. 2023/1094 removed the reference to sectors of the economy that provide a significant source of income to the Government of the Russian Federation. Thus, the EU Council significantly expanded the circle of entrepreneurs against whom the EU can impose sanctions and potentially complicated the challenging of sanctions for those entrepreneurs who challenge sanctions in the EU Court.
In addition, prior to the amendments, kinship was not sufficient legal grounds for imposing sanctions. Wives, parents, and children of sanctioned individuals successfully challenged such sanctions in the EU Court. However, under the new regulation, relatives of leading businessmen and beneficiaries of their activities may also be subject to sanctions, making it more difficult for them to challenge their inclusion on the sanctions list.
The EU Council justified these amendments by strengthening the sanctions pressure on Russia, the close interdependence between leading Russian businessmen and the Government of the Russian Federation, and a number of cases of hiding assets by sanctioned individuals through relatives and other persons.
Currently, the new sanctions list includes 21 individuals (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32014R0269). Among them are several well-known Russian politicians.
EU Council Decision No. 2023/1094 enters into force on the day following its publication in the Official Journal of the European Union. Since the decision was published on June 6th, 2023, it enters into force on June 7th, 2023.
25 February 2023
The European Union launched the tenth package of anti-Russian sanctions, which affected Alfa-Bank, Tinkoff Bank and Rosbank. The restrictions include disconnection from the international SWIFT system, freezing of assets in EU countries and a ban on transactions.
New sanctions also banned the import of synthetic rubber and bitumen from Russia. Citizens of the Russian Federation are prohibited from managing organizations that are operators of the community's critical infrastructure.
Also, the transit of dual-use goods through Russia is completely prohibited (previously, the ban only applied to exports).
The 10th package of sanctions also established an obligation for citizens of EU Member States to disclose information about the assets of sanctioned persons known to them. Article 8 of Regulation (EU) No. 269/2014 has been amended. This rule established the obligation for citizens of EU Member States to disclose information about the assets of sanctioned persons known to them within 2 weeks, as they became aware of such information.
As part of the 10th package, the EU Council allowed, by decision of the authorized body of an EU member state, the unblocking of frozen funds and economic resources of the National Settlement Depository (“NSD”). The deadline for unlocking assets has been extended to July 24, 2023. Unfreezing is possible for operations, contracts and other agreements concluded with NSD before June 3, 2022.
16 December 2022
According to a press release from the Council of the EU, the EU Member States approved the ninth package of sanctions against Russia (https://www.consilium.europa.eu/en/press/press-releases/2022/12/16/russia-s-war- of-aggression-agains...) which includes the following:
- Expansion of the sanctions list to include 168 Russian entities to restrict the export of goods and technologies that can contribute to the technological improvement of Russia's national defense and security, as well as dual-use goods and technologies, in particular: basic chemicals, nerve agents, devices night vision, radio navigation equipment, electronics and IT components;
- Expansion of the sanctions list to include 168 Russian entities to restrict the export of goods and technologies that can contribute to the technological improvement of Russia's national defense and security, as well as dual-use goods and technologies, in particular: basic chemicals, nerve agents, devices night vision, radio navigation equipment, electronics and IT components;
- expansion of the list of goods and technologies related to the aviation and space industry prohibited for export: a ban on the export of aircraft engines and their parts (this ban will apply to both manned and unmanned aerial vehicles, which means that from now on the ban will apply for the export of drone engines to Russia and any third country that could supply drones to Russia);
- personal sanctions against two Russian banks and the inclusion of the All-Russian Bank for Regional Development (RRDB) in the list of Russian state-owned or RF-controlled organizations, transactions with which are completely banned;
- suspension of media licenses for NTV/NTV Mir, Russia 1, REN TV and Channel One;
- a ban on the provision of services for advertising, market research, public opinion polls, as well as services for product testing and technical inspection of Russia;
- a ban on investments in the Russian mining sector, with the exception of mining activities related to critical raw materials;
- prohibition for EU citizens to hold any positions in the governing bodies of Russian state or Russian-controlled organizations or bodies located in Russia.
Also, as part of the ninth package, the EU member states agreed on sanctions relief for Russian food and fertilizer producers. (https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=uriserv%3AOJ.LI.2022.322.01.0687.01.ENG&....
According to EU Council Decision 2022/2475 of 12/16/2022, EU Member States may release the frozen funds of legal entities listed under numbers 53, 54, 55, 79, 80, 81, 82, 108, 126 and 127 in Annex I to EU Council Decision 2014/145/CFSP if these funds are needed for the purchase, import or transport of agricultural and food products, including wheat and fertilizers.
These legal entities are:
• Bank Rossiya;
• PJSC Promsvyazbank;
• VEB.RF;
• PJSC Bank FC Otkritie;
• Novikombank;
• Sovcombank;
• VTB/Vneshtorgbank;
• Sberbank.
Also, in accordance with EU Council Decision 2022/2475 of 12/16/2022, EU Member States may release the frozen funds of individuals who played a significant role in international trade in agricultural and food products, including wheat and fertilizers, before their inclusion in the sanctions list, if these funds are necessary for these persons to purchase, import or transport agricultural and food products, including wheat and fertilizers, to third countries in order to ensure food security.
Also, by this decision of the Council of the EU, EU Member States have been granted the right to release frozen funds:
• Sberbank - if funds are needed to complete before June 17, 2023 the sale and transfer of property owned by this legal entity or owned by this legal entity;
• legal entities listed under numbers 126 and 127 in Annex I to EU Council Decision 2014/145/CFSP - to terminate until June 17, 2023 contracts concluded with these entities before December 16, 2022.
The Member State that decides to release the funds must inform the EU Commission and other EU Member States of this.
At the moment there is no data on who the persons under numbers 126 and 127 are in Annex I to EU Council Decision 2014/145/CFSP
28 November 2022
On November 28, 2022, the Council of the EU unanimously decided to include violations of restrictive measures (sanctions) in the list of "EU crimes" in accordance with the Treaty on the Functioning of the EU.
Previously, liability for sanctions violations was determined by individual EU member states. Now the Council of the EU has established a single criminal responsibility for violation of sanctions at the EU level.
The official website of the EU Council notes that the inclusion of violations of restrictive measures (sanctions) in the list of “EU crimes” will be the first of two steps aimed at ensuring equality in the application of sanctions throughout the EU and deterring attempts to circumvent or violate EU regulation.
The next step, according to information from the official website of the Council of the EU, will be the preparation by the European Commission of a draft Directive that will reveal the procedure for bringing to criminal responsibility for violation of restrictive measures (sanctions) of the EU. This draft Directive is then to be discussed and adopted by the EU Council and the European Parliament.
6 October 2022
According to a press release from the Council of the EU and a press release from the EU Commission (the EU act itself has not yet been published in the Official Journal), the eighth package of EU sanctions against Russia includes the following:
- A ban on the provision of maritime transport and technical assistance, intermediary services or financing or financial assistance related to maritime transportation to third countries of crude oil (as of December 5, 2022) or petroleum products (as of February 5, 2023), which originate or are exported from Russia.
- Deviation from the “upper price ceiling” is allowed if oil or oil products are purchased at or below a predetermined price ceiling.
The prohibition for EU ships to transport such products by sea to third countries will be effective from the date when the Council of the EU takes a unanimous decision on the introduction of an upper price ceiling.
- Restriction on imports of finished products and semi-products of steel, which are either produced in Russia or exported from Russia, machinery and equipment, wood and paper, cigarettes, plastics, automobiles, textiles, footwear, leather, ceramics, certain chemical products, cosmetics and items used in the jewelry industry (stones and precious metals).
- Restriction on the sale, supply, transfer or export of additional products used in the aviation industry.
- Additional export restrictions on goods that may contribute to the military, industrial and technological development of the Russian Federation or the development of the Russian defense and security sector, including coal and caking coal (used in industrial plants), certain electronic components (used in Russian weapons), additional chemicals and goods that can be used for the death penalty, torture or other cruel, inhuman or degrading treatment.
• A ban on the sale, supply, transfer or export of civilian firearms and their major components, ammunition, military vehicles and equipment, paramilitary equipment and spare parts.
• Sanctions against individuals and organizations allegedly involved in the organization of referendums, representatives of the defense sector.
• Expanding the criteria for inclusion in the sanctions lists of persons who contribute to the circumvention of EU sanctions.
• Prohibition for EU citizens to hold any positions in certain Russian state or government-controlled legal entities, organizations or bodies.
• Prohibition of all operations with the Russian Maritime Register of Shipping.
• A ban on the provision of a crypto wallet, account or services for the storage of crypto assets to Russian persons and residents, regardless of the total value of these crypto assets (previously allowed up to 10,000 euros).
• A ban on providing architectural and engineering services, IT consulting services and legal advice to the Russian Government or legal entities registered in Russia.
• Expansion of the geographical scope of the restrictions imposed on February 23 (in particular, the ban on the import of goods from the Donetsk and Luhansk regions) to the Zaporozhye and Kherson regions.
21 July 2022
- The seventh package of EU sanctions came into force. It provides for personal sanctions against 48 individuals and 9 companies. The list of dual-use goods and technologies banned from deliveries to the Russian Federation has also expanded.
- Among legal entities, restrictive measures have been introduced against PJSC Sberbank, Rossotrudnichestvo, the FORSS group of companies and others. Freezing of foreign assets is envisaged for Sberbank.
- Persons on the sanctions list are required to declare assets located abroad.
• Introduced a ban on direct and indirect import, purchase or transfer of gold, which is of Russian origin. The embargo also applies to jewelry.
• Restrictions on accepting bank deposits now apply to Russian legal entities and organizations established in other countries, but controlled by Russian citizens or companies. With regard to Russian citizens, these restrictions are being tightened.
• The ban on Russian-flagged ships entering EU ports and locks is being extended. An EU Member State may allow access to locks in order for a vessel to leave EU territory.
At the same time, the EU allowed the provision of technical assistance to Russia in the aviation industry to maintain international technical and industrial standards, and also decided to expand exemptions from restrictions on oil transportation in order to maintain energy security. Transactions with Russian companies with state participation in relation to the supply of oil and oil products from Russia to third countries are allowed.
Transactions necessary to ensure access to justice in litigation, administrative or arbitration proceedings are permitted.
The ban on the provision of consulting, auditing, trust and other services now does not apply to Russian persons if the beneficiary is, in addition to EU residents, residents of the EFTA countries (Switzerland, Liechtenstein, Iceland, Norway).
The EU has also pledged to avoid restrictions on Russia that could worsen food security. The ban on transactions with agricultural products has been lifted in relation to some Russian banks (Sberbank, VTB, Promsvyazbank, etc.).
EU measures do not prohibit third countries and their nationals operating outside the EU from purchasing pharmaceutical or medical devices from Russia.
3 June 2022
- EU introduces sixth package of sanctions against Russia:
· The EU has decided to phase out imports of crude oil from Russia within 6 months of today's decision, and imports of petroleum products after 8 months. So far, oil entering the EU through pipelines does not fall under the restrictions, but it is planned to abandon it in the future;
· It is also prohibited to provide technical, brokerage and financial assistance, insurance and reinsurance of maritime transportation of Russian oil to third countries;
· Sberbank, MKB, Rosselkhozbank are disconnected from SWIFT from June 14, 2022;
· A ban is established on the provision of business services to Russian companies, including accounting, consulting, and PR services;
· Sanctions were imposed against the following entities: National Settlement Depository, Eduard Khudainatov (NNK), Arkady Volozh (Yandex), OJSC UAZ, PJSC Kamaz, LLC Management Company Tatneft-Neftekhim, LLC Nizhnekamsk Truck Tire Plant, PJSC Nizhnekamskshina ", Belaruskali.
8 April 2022
- The fifth package of anti-Russian sanctions was introduced (https://www.consilium.europa.eu/en/press/press-releases/2022/04/08/eu-adopts-fifth-round-of-sanction...). It includes:
- ban on the purchase, import or transit of coal and other solid fossil fuels in the EU if they originate in Russia or are exported from Russia, starting from August 2022;
- ban on granting access to EU ports to ships registered under the Russian flag, except for ships that transport agricultural and food products and humanitarian and energy cargoes;
- ban on any Russian and Belarusian road transport of goods within the EU, including transit, except for pharmaceutical, agricultural and food products, including wheat, as well as humanitarian goods;
- ban on the export of jet fuel and other goods, such as high-tech semiconductors, quantum computers, high-quality electronics, software, transport equipment;
- ban on the import of timber, cement, fertilizers, seafood and liquor;
· general EU ban on the participation of Russian companies in public procurement in member states, the exclusion of any financial support from Russian state bodies, an extended ban on deposits in crypto wallets, as well as on the sale of banknotes and transferable securities denominated in any official currencies of the states; EU members, to Russia and Belarus, or to any individual or legal entity in Russia and Belarus.
In addition, a complete ban on operations has been imposed on four key Russian banks - VTB, FC Otkritie, Sovcombank, Novikombank - which account for 23% of the market share of the Russian banking sector. After sanctions are lifted, assets will be frozen from these banks.
28 March 2022
- The European Commission has published an updated list of clarifications on sanctions (https://ec.europa.eu/info/business-economy-euro/banking-and-finance/international-relations/restrict...).
15 March 2022
- The fourth package of anti-Russian sanctions was introduced (https://www.consilium.europa.eu/en/press/press-releases/2022/03/15/fourth-package-of-sanctions-in-vi...) due to for special operations in Ukraine. The Council of Europe decided:
· prohibit all transactions with certain state-owned enterprises,
· prohibit the provision of any credit assessment services, as well as access to any subscription services related to credit assessment activities, to any Russian individual or legal entity,
· to expand the list of persons associated with the defense and industrial base of Russia, for whom export restrictions are being tightened for dual-use goods, goods and technologies that can contribute to the technological improvement of the Russian defense and security sector,
· prohibit new investments in the Russian energy sector, as well as impose comprehensive restrictions on the export of equipment, technologies and services for the energy industry,
· impose additional trade restrictions on iron and steel,
· to ban the export to the Russian Federation of luxury items worth more than 300 euros per piece.
- The council decided to impose sanctions on key oligarchs, lobbyists and propagandists promoting the Kremlin's narrative of the situation in Ukraine, as well as key companies in the aviation, military and dual-use, shipbuilding and engineering sectors.
The full list of individuals who fell under EU sanctions on March 15, 2022:
• Roman Abramovich, the main shareholder of Evraz,
• Herman Khan, one of the main shareholders of Alfa Group,
• Viktor Rashnikov, Chairman of the Board of Directors of MMK,
• Alexey Kuzmichev, one of the main shareholders of Alfa Group,
• Alexander Mikheev, General Director of Rosoboronexport,
• Alexander Shokhin, head of the Russian Union of Industrialists and Entrepreneurs,
• Andrey Ryumin, General Director of Rosseti,
• Armen Gasparyan, publicist, board member of RT,
• Artyom Sheinin, host of the talk show "Time Will Show" on Channel One,
• Dmitry Kulikov, expert of the RF State Duma Committee on CIS Affairs and Relations with Fellow Countrymen, TV and radio presenter, member of the Public Council under the RF Ministry of Defense,
• Konstantin Ernst, General Director of Channel One,
• Marina Sechina, owner of Stankoflot,
• Suleiman Kerimov, founder of the investment holding Nafta Moscow,
• Tigran Khudaverdyan, CEO of Yandex,
• Vladimir Rashevsky, head of EuroChem.
EU restrictive measures now apply to a total of 877 individuals and 62 entities. Those on the lists have their assets frozen, and EU citizens and businesses are prohibited from providing funds to them. Individuals are also subject to a travel ban that prevents them from entering or transiting through EU countries.
- As noted above, luxury items worth more than 300 euros per item are prohibited from exporting to the Russian Federation. The list included:
• clothing, shoes, accessories, leather bags, suitcases, wallets,
• pearls, precious and semi-precious stones, jewelry, including those made of gold and silver and with diamonds,
• Perfumes and cosmetics,
• art objects, antiques,
• porcelain utensils and lead crystal items,
• watches, including wristwatches, and spare parts for them,
• horses,
• wines, including sparkling, beer and spirits,
• caviar and its substitutes,
• truffles and their products,
• vehicles, with the exception of ambulances, for transporting people by land, air or water worth more than 50 thousand euros, as well as spare parts for them (the measure also applies to cars, including racing cars, and motorcycles worth more than 5 thousand euros);
• collectible coins and banknotes,
• musical instruments worth more than 1.5 thousand euros;
• electronic devices for recording video or sound worth over 1,000 euros, including cameras and smartphones;
• cigars and cigarillos;
• electronic goods for household use over 750 euros, including floor fans, hair dryers, microwave ovens, coffee and tea makers, as well as smartphones and game consoles.
The ban does not apply to goods needed for “official purposes”, for diplomatic missions in Russia, international organizations and their employees.
- In addition, the EU authorities include in the sanctions lists nine companies associated with the defense industry of the Russian Federation, including Rosoboronexport and JSC Research and Production Corporation UralVagonZavod, Rosneft-Aero, the holding JSC NPO High Precision Complexes, PJSC Kurganmashzavod, Russian Helicopters holding, PJSC United Aircraft Corporation, JSC United Shipbuilding Corporation, JSC Zelenodolsk Plant named after A. M. Gorky. These companies are subject to stricter export restrictions on dual-use goods and technologies, as well as goods and technologies that can contribute to the technological improvement of the Russian defense and security sector.
9 March 2022
- On March 9, 2022, an EU regulation was published that imposes blocking and visa sanctions on 146 members of the Federation Council of the Federal Assembly of the Russian Federation, businessmen and CEOs of large financial and industrial groups in Russia, who approved mutual assistance agreements with the DPR and LPR (regulatory act: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ%3AL%3A2022%3A080%3ATOC). Of the latter, blocking and visa sanctions included:
• Alexander Pumpyansky, Pipe Metallurgical Company,
• Alexander Vinokurov, Marathon Group,
• Andrey Melnichenko, SUEK,
• Dmitry Pumpyansky, Pipe Metallurgical Company,
• Dmitry Mazepin, Uralchem,
• Mikhail Oseevsky, Rostelecom,
• Mikhail Poluboyarinov, Aeroflot,
• Sergey Kulikov, Rusnano,
• Vadim Moshkovich, Rusagro,
• Vladimir Kiriyenko, Vk.com,
• Andrey Guryev, Phosagro,
• Dmitry Konov, Sibur.
2 March 2022
- Disconnection of some Russian banks from the interbank SWIFT system (EU Regulation No. 345 and Decision No. 346 on disconnecting Russian banks from SWIFT: VTB, VEB, Novikombank, Promsvyazbank, Sovcombank, Otkritie and JSCB Rossiya).
- Restrictions are being introduced against a number of journalists (Anton Krasovsky, Olga Skabeeva, Arkady Mamontov, Roman Babayan), writer Zakhar Prilepin, cellist Sergei Roldugin, director Tigran Keosayan, Deputy Prime Minister of the Russian Federation Dmitry Chernyshenko, head of the Ministry of Construction of the Russian Federation Irek Fayzullin and chairman of the General Council of the United Russia Andrey Turchak.
1 March 2022
- EU Decision 2022/346 of March 1, 2022 prohibits the sale, supply and export of euro cash to Russia or to any natural or legal person, organization or body in Russia, including the government and the Central Bank of Russia, or for use in Russia. The prohibition does not apply to the sale, supply, transfer or export of euro-denominated banknotes, provided that such sale, supply, transfer or export is necessary for: the personal use of individuals traveling to Russia or members of their immediate families traveling with them, and for the official purposes of diplomatic missions, consular offices or international organizations in Russia enjoying immunities under international law. It is also prohibited to invest in, participate in or otherwise contribute to projects co-financed by the Russian Direct Investment Fund. The competent authorities may authorize, on such terms and conditions as they deem appropriate, an investment participation or contribution to projects co-financed by the Russian Direct Investment Fund, after determining that such an investment participation or contribution is payable in accordance with contracts concluded before March 2, 2022, or additional contracts necessary for the performance of such contracts.
- A ban on entry into the EU airspace of Russian aircraft, including selling carriers (in code-sharing) and aircraft controlled by the Russian Federation or operated by it.
- Article 8 of the Decision and 12 of the Regulations (on restrictive measures against Russia due to the situation in Ukraine) have also been changed in terms of concretizing the ban on circumventing the imposed restrictions. It is now prohibited to knowingly and intentionally engage in any activity the purpose or effect of which is to circumvent prohibitions, including by substituting yourself for a prohibited person or entity, organization or body.
- The EU sanctions also include a ban on the sale of aircraft parts and equipment to Russian airlines. In addition, the package of sanctions provides for the restriction of sales of semiconductors and software.
- Restrictions will be introduced on the export to Russia of technologies for the oil and gas, aerospace and defense industries.
28 February 2022
- A ban on the entry into the air EU of Russian aircraft, including selling carriers (in code-sharing), as well as aircraft controlled or operated from Russia (EU Council Regulation 2022/334 of 28.02.2022).
- Article 8 of the Decision and 12 of the Regulations have also been changed in terms of specifying the prohibition to bypass the imposed restrictions. It is now prohibited to knowingly and intentionally engage in any activity the purpose or effect of which is to circumvent prohibitions, including by substituting yourself for a prohibited person or entity, organization or body.
- RT and Sputnik websites are blocked in the EU.
25 February 2022
- Operations related to the management of reserves, as well as assets of the Central Bank of Russia, are prohibited, including transactions with any legal entity, organization or body acting on behalf of or on behalf of the Central Bank of Russia (EU Council Decision 2022/3359).
- All transactions with the Russian Central Bank are prohibited.
- European banks are prohibited from selling and buying financial instruments denominated in euros in the interests of Russian clients.
- European depositories are prohibited from providing any services to Russian citizens and organizations for the sale of securities (shares, bonds) issued after April 12, 2022.
- A ban on the listing of shares of any Russian state-owned companies (with a state share of over 50%) on European stock exchanges
- The restrictions do not apply to Russians who have the citizenship of an EU member state and persons who have a residence permit.
- Does not apply to deposits that are required "for non-prohibited cross-border trade in goods and services between the EU and Russia".
- Personal sanctions are imposed on Vladimir Putin's press secretary Dmitry Peskov, Rosneft head Igor Sechin, Transneft head Nikolai Tokarev, businessmen Alisher Usmanov, Petr Aven, Mikhail Fridman, Gennady Timchenko, Alexei Mordashov ((Decision of the Council EU 2022/337 of 25.02.2022 (https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32022D0327), amending EU Council Decision 2014/145/CFSP).
- Lack of privileged access to the EU for members of official delegations, government and parliament, courts, holders of diplomatic passports and businessmen.
- The issuance of visas to Russian citizens (Lithuania, Latvia, the Czech Republic, etc.) has been suspended.
Nadmitov, Ivanov & Partners Law Firm advises on th