The twelfth bundle of latest sanctions in opposition to Russia features a ban on the import, buy or switch of diamonds from Russia. It additionally reinforces enforcement and measures in opposition to circumvention of sanctions.
The Council adopted at this time a twelfth bundle of financial and particular person restrictive measures in view of the continued Russian battle of aggression in opposition to Ukraine. These measures ship an additional blow to Putin’s capacity to wage battle by concentrating on high-value sectors of the Russian economic system and making it tougher to bypass EU sanctions.
The agreed bundle consists of the next measures:
Diamonds
The EU is imposing a prohibition on the direct or oblique import, buy or switch of diamonds from Russia. This prohibition applies to diamonds originating in Russia, diamonds exported from Russia, diamonds transiting Russia and Russian diamonds when processed in third nations.
A direct ban applies to non-industrial pure and artificial diamonds in addition to diamond jewelry, as of 1 January 2024. Moreover, an oblique import ban of Russian diamonds when processed (i.e. minimize and/or polished) in third nations, together with jewelry incorporating diamonds originating in Russia, will probably be phased in progressively as of 1 March 2024 and be accomplished by 1 September 2024. This phasing-in of oblique import bans is justified by the necessity to deploy a traceability mechanism that allows efficient enforcement measures and minimises disruptions for the EU market.
The ban of Russian diamonds is a part of a G7 effort to develop an internationally coordinated diamond ban that goals at depriving Russia of this essential income supply.
No Russia clause
Right now’s resolution requires that EU exporters contractually prohibit re-exportation to Russia and re-exportation to be used in Russia of notably delicate items and know-how, when promoting, supplying, transferring or exporting to a 3rd nation, excluding accomplice nations. The clause covers prohibited objects utilized in Russian army methods discovered on the battlefield in Ukraine or crucial to the event, manufacturing or use of these Russian army methods, in addition to aviation items and weapons.
Import-export controls and restrictions
The Council added 29 new entities to the listing of these immediately supporting Russia’s army and industrial complicated in its battle of aggression in opposition to Ukraine. They are going to be topic to tighter export restrictions regarding twin use items and applied sciences, in addition to items and know-how which could contribute to the technological enhancement of Russia’s defence and safety sector. A few of these 29 entities belong to third nations concerned within the circumvention of commerce restrictions, or are Russian entities concerned within the growth, manufacturing and provide of digital elements for Russia’s army and industrial complicated.
Moreover, at this time’s resolution expands the listing of restricted objects that might contribute to the technological enhancement of Russia’s defence and safety sector to incorporate: chemical substances, lithium batteries, thermostats, DC motors and servomotors for unmanned aerial automobiles (UAV), machine instruments and equipment components.
Lastly, the EU launched additional restrictions on imports of products which generate important revenues for Russia and thereby allow the continuation of its battle of aggression in opposition to Ukraine, such pig iron and spiegeleisen, copper wires, aluminium wires, foil, tubes and pipes for a complete worth of €2.2 billion per 12 months. A brand new import ban is launched on liquefied propane (LPG) with a 12-month transitional interval.
Lastly, the Council determined to introduce some exemptions to import restrictions regarding private use objects, comparable to private hygiene objects, or clothes worn by travellers or contained of their baggage, and for automobiles which have a diplomatic automobile registration plate to enter the EU. Moreover, so as to facilitate the entry into the Union of EU residents residing in Russia, member states can authorise the entry of their automobiles offered that the automobiles should not on the market and are pushed for strictly private use.
Enforcement and anti-circumvention measures
The transit ban that at present applies to twin use items and applied sciences exported from the EU to 3rd nations through the territory of Russia will probably be prolonged to all battlefield items.
As a way to additional restrict circumvention, at this time’s resolution features a ban on Russian nationals from proudly owning, controlling or holding any posts on the governing our bodies of the authorized individuals, entities or our bodies offering crypto-asset pockets, account or custody companies to Russian individuals and residents.
Moreover, the prevailing prohibition on the availability of companies will probably be prolonged to additionally embrace the availability of software program for the administration of enterprises and software program for industrial design and manufacture.
Lastly the EU is imposing notification necessities for the switch of funds exterior the EU by any entity established within the EU that’s owned or managed by an entity established in Russia, or by a Russian nationwide or pure individual residing in Russia.
Enforcement of oil value cap
The Council is introducing tighter compliance guidelines to assist the implementation of the oil value cap and clamp down on circumvention. Moreover a strengthened data sharing mechanism will enable higher identification of vessels and entities finishing up misleading practices, comparable to ship-to-ship transfers used to hide the origin or vacation spot of cargo and AIS manipulations, whereas transporting Russian crude oil and petroleum merchandise.
The Council additionally determined to introduce notification guidelines for the sale of tankers to any third nation so as to make extra clear their sale and export, particularly within the case of second-hand carriers that could possibly be used to evade the import ban on Russian crude or petroleum merchandise and the G7 Worth Cap.
Iron and metal
Right now’s resolution provides Switzerland to an inventory of accomplice nations which apply a set of restrictive measures on imports of iron and metal from Russia, and a set of import management measures which can be considerably equal to these of the EU.
It additionally extends the wind-down durations for the import of particular metal merchandise.
Particular person listings
Along with financial sanctions, the Council determined to listing a big quantity of further people and entities.
Background
Within the European Council conclusions of 26-27 October 2023, the EU reiterated its resolute condemnation of Russia’s battle of aggression in opposition to Ukraine, which constitutes a manifest violation of the UN Constitution and reaffirmed the EU’s unwavering assist for Ukraine’s independence, sovereignty and territorial integrity inside its internationally recognised borders and its inherent proper of self-defence in opposition to the Russian aggression.
The European Union will proceed to supply sturdy monetary, financial, humanitarian, army and diplomatic assist to Ukraine and its folks for so long as it takes.