On December 18, 2023, the European Union (“EU“) adopted its 12th sanctions package against Russia. The new package introduces additional asset freeze measures,1 together with amendments to the EU asset freeze framework targeting Russia, including new grounds for designation and derogations, extended derogations and reinforced asset tracing provisions.2
The new package also introduces amendments to sectoral sanctions targeting Russia,3 and notably reinforces trade control measures through (i) new import-related restrictions on diamonds, liquefied petroleum gas (“LPG“) and metal goods; (ii) amendments to import-related restrictions on iron and steel products; and (iii) enhanced export-related restrictions on dual-use, advanced technology and industrial items. Important restrictions were also introduced on the provision of enterprise management software and design-related software. A number of existing exemptions and derogations were extended or amended, notably in the energy sector and with regard to services and software provided to EU, European Economic Area (“EEA”), Swiss, and partner countries’ subsidiaries in Russia. Anti-circumvention measures were introduced, tightening the oil price cap and requiring so-called “No Russia” clauses to be contractually agreed in contracts with non-Russian parties involving sensitive items. Finally, without going as far as restricting the transfer of funds, notification requirements were introduced with respect to fund transfers out of the EU made by Russian-owned entities established in the EU.
New asset freeze designations entered into force immediately upon publication on December 18, 2023, while the remaining measures entered into force at midnight on December 19, 2023. However, various exemptions, derogations and transition periods are outlined under the adopted texts.
I. ASSET FREEZE MEASURES
A. Additional Listings
140 persons (61 individuals and 86 entities) in the military, defense, private military, IT, media, aviation, industrial and economic sectors were added to the list of individuals and entities subject to EU asset freeze measures.
Notably, the new designation target (i) several telecommunications companies, such as LLC MirTelecom, LLC Miranda Media, LLC Shipping Company Lyukstrans, JSC Krymtelecom; (ii) AlfaStrakhovanie Group (Alfa Insurance), one of the biggest insurance groups in Russia; and (iii) Rosfinmonitoring, a federal executive body responsible for countering money laundering and terrorism financing.
In addition, designations were made against two Russian entities, LLC Mayak and AK Microtech (as well as its director general), and against the French director general of two Finnish companies, in relation to sanctions circumvention concerns through unlawful imports of controlled goods in Russia.
B. New Grounds for Designation
The EU introduced grounds allowing for the listing as subject to asset freeze measures of individuals and entities linked to the forced transfer of ownership of Russian subsidiaries of EU entities. The following individuals and entities can now be made subject to asset freeze measures:
– Russian entities previously owned/controlled by EU entities, where their ownership or control has been compulsorily transferred by the Russian government;
– Individuals and entities that benefitted from such transfer;
– Individuals appointed to the governing bodies of these entities without the consent of the EU entity that previously owned or controlled it.
The EU also introduced a possibility to maintain asset freeze measures against deceased individuals, if their delisting would undermine the objectives of EU sanctions.
C. New and Extended Grounds for Authorization to Deviate from Asset Freeze Measures
New derogations: The EU introduced five new derogations from asset freeze measures:
– Deprivation by Member States of sanctioned parties’ funds/economic resources in the public interest: authorizations can be obtained for judicial or administrative decisions by an EU Member State, under conditions provided by law, to deprive in the public interest a sanctioned person of funds or economic resources belonging to, owned or controlled by such person, provided the compensation paid for such deprivation is frozen.
– Derogation linked to forced transfer of ownership: authorizations can be obtained for funds/economic resources necessary (i) for the sale or use of shares in, or assets of, Russian entities designated under the new forced ownership transfer criterion, (ii) in order to enable the payment of the consideration agreed by the parties or for the compensation decided in the context of the compulsory transfer of ownership or control.
– Damage compensation payment by AlfaStrakhovanie Group (Alfa Insurance): authorizations can be obtained for payments due by AlfaStrakhovanie Group to EU, EEA, Swiss or partner countries’ entities, citizens or residents as an indemnity or benefit provided further to the materialization of a risk.
– Sale of EU entities by certain, previously sanctioned persons: authorizations can be obtained in relation to A. Rotenberg, P. Aven, M. Fridman, G. Timchenko, G. Khan, A. Kuzmichev, I. Kesaev, B. Rotenberg, OAO ‘VO Technopromexport’ and OOO ‘VO Technopromexport’ for the sale and transfer by June 30, 2024 of their proprietary rights in EU entities, provided the proceeds of such sale and transfer is frozen.
– Wind-down of contracts with JSC “Alabuga” Special Economic Zone of Industrial and Production Type: authorizations can be obtained for the termination by June 20, 2024 of contracts concluded with this entity before December 19, 2023.
Extended derogations: The EU also extended two existing derogations:
– Alfa Bank/Jewish Claims Conference: transactions involving Alfa Bank for the disbursement of funds by the Jewish Claims Conference to beneficiaries in Russia can now be authorized until December 31, 2024 (instead of November 26, 2023).
– Listed banks in relation to agri-food transactions to AlfaStrakhovanie Group (a.k.a. Alfa Insurance): transactions involving AlfaStrakhovanie Group can now be authorized if they are necessary for the purchase, import or transport of agricultural and food products, including wheat and fertilizers, like for other listed financial institutions.
Amended exemption: Finally, the EU amended the exemption from asset freeze measures for funds and economic resources needed for the provision of pilot services necessary for maritime safety, thereby no longer requiring vessels to be “in innocent passage as defined by international law”.
D. Reinforced Asset Tracing Provisions
The EU introduced an obligation for Member States to designate by October 31, 2024 a national authority to identify and trace funds and economic resources belonging to, owned, held or controlled by sanctioned persons that are located in their jurisdiction, so as to detect (attempted) circumvention.
II. TRADE RESTRICTIONS
The EU’s 12th sanctions package introduces new and reinforces existing import-related and export-related control measures imposed under Council Regulation (EU) No 833/2014 (“Regulation 833/2014“),4 while also extending or phasing-out existing exemptions and derogations.
Importantly, the so-called “No Russia” contractual clause requirement will affect trade with non-Russian countries as well.
A. Import-Related Restrictions
a. New measures on Russian diamonds (Annex XXXVIIIA of Regulation 833/2014)
Scope of prohibitions – New prohibitions were introduced in relation to the:
– Purchase, import or transfer of diamonds and products incorporating diamonds5 (“Diamonds Products“, Annex XXXVIIIA of Regulation 833/2014);
– Provision of related services (technical assistance, brokering services, other services, financing or financial assistance).
Phasing-in – These prohibitions are phased-in and will apply:
– As of January 1, 2024, for all Diamonds Products, which (i) originate in Russia, (ii) have been exported from Russia to the EU or any third country or (iii) transited via Russia;
– As of March 1, 2024, for unsorted and non-industrial diamonds,6 which have been processed in a third country, consisting of diamonds originating in Russia or exported from Russia with a weight equal to or above 1.0 carats per diamond;
– As of September 1, 2024, for all Diamonds Products, which have been processed in a third country, consisting of or incorporating diamonds originating in Russia or exported from Russia with a weight equal to or above 0.5 carats or 0.1 grams per diamonds.
Evidentiary requirements – As regards imports of Diamond Products processed in third countries:
– Unsorted and non-industrial unworked or simply sawn, cleaved or bruted diamonds7 will have to be submitted for verifications to a specific authority in Belgium,8 with verifications to be carried out in accordance with the Kimberley Process certification scheme;9
– Importers will have to provide evidence of the country of origin of Diamond Products used as inputs for the processing of the product in a third country. This is to be based on the traceability mechanism to be deployed at the level of the G7 countries.10
Exemption and derogation – The following exemption and derogation are foreseen:
– Exemption for certain Diamond Products that are for personal use of individuals travelling to the EU or their immediate family members;
– Derogation for cultural goods on loan in the context of formal cultural cooperation with Russia.
b. Amended measures on iron & steel products (Annex XVII of Regulation 833/2014)
Extended phasing-in for slabs – Import-related restrictions targeting certain Russian semi-finished steel products (“Slabs“),11 as such or as incorporated in products processed in third countries, will benefit from a longer phasing-in period:
– Russian Slabs will benefit from extended quotas, valid until September 30, 2028 (instead of September 30, 2024);
– Restrictions on imports of iron & steel products incorporating Russian Slabs will only apply as from October 1, 2028 (instead of October 1, 2024).
Partner countries – Furthermore, a list of partner countries12 was introduced to facilitate imports of iron & steel products processed in third countries, as such imports will be exempt from the requirement to provide evidence of the country of origin of the iron & steel inputs upon importation into the EU. This list currently includes Switzerland and Norway.
c. Amended measures on goods which generate significant revenues for Russia (Annex XXI of Regulation 833/2014)
Extended list of controlled items – The list of items covered by Annex XXI has been extended to target, notably, (i) metal goods (pig iron and spiegeleisen, ferro-alloys, copper wires, aluminum wires, foil, tubes and pipes) and (ii) and LPG.
For items that were added to Annex XXI:
– New wind-down exemptions permit the execution of contracts concluded before December 19, 2023, either until March 20, 2024, for most metal goods13 and until December 20, 2024 for LPG and ferro-alloys;
– Quotas have been introduced until December 31, 2025, for pig iron and iron lumps, pellets or similar forms.14
New derogations to address EU border issues – Furthermore, derogations and exemptions were introduced in light of difficulties faced at the border of the EU in relation to personal items and vehicles, where there is no concern that those items may subsequently be sold:
– Derogation for goods intended for strict personal use of natural persons travelling to the EU or their immediate family members;
– Derogation for cars15 owned by EU citizens or an immediately family member residing in Russia and driven into the EU for strict personal use;
– Exemption for cars16 that have a diplomatic vehicle registration plate and necessary for diplomatic and consular representations or for the personal use of their staff and their immediately family members;
A specific provision was introduced to also confirm that vehicles that were already registered in the EU on December 19, 2023, can be lawfully registered and, thus, regularized.
d. Extended exceptions to import ban on crude oil and petroleum products (Annex XXV of Regulation 833/2014)
Exceptions to the import ban on crude oil secured by Croatia and the Czech Republic have been extended by one year:
– Extended Croatia-specific derogation for vacuum gas oil: Croatia can now authorize, subject to certain conditions, purchases, imports or transfers of Russian vacuum gas oil17 until December 31, 2024 (instead of December 31, 2023).
– Extended Czechia-specific phasing-in of restrictions on petroleum products obtained from Russian crude oil imported by pipeline: the Czech Republic can continue to import, purchase or transfer into Czechia petroleum products obtained from Russian crude oil delivered by pipeline to other Member States until December 5, 2024 (instead of December 5, 2023).
B. Export-Related Restrictions
a. Extended restrictions for dual-use and advanced technology items (Annex I of Regulation 2021/821 and Annex VII of Regulation 833/2014)
Additions to EU “Entity List” – The EU added 29 entities to the list of entities subject to enhanced restrictions on dual-use and advanced technology items.18 Newly designated entities are located in Russia, Uzbekistan and Singapore.
Extended list of controlled items – Furthermore, the EU extended the list of advanced technology items contained in Annex VII of Regulation 833/2014. Additions to this list concern notably chemicals, lithium batteries, thermostats, DC motors and servomotors for UAV, machine tools and machinery parts.
b. Phasing out of exemption for insurance/reinsurance related to items suitable for energy exploration/production purposes (Annex II of Regulation 833/2014)
The EU currently exempts the provision of insurance or reinsurance related to Annex II items to or for use in Russia, if provided to EU entities regarding their activities outside the energy sector in Russia. This exemption will be phased out by June 20, 2024, and replaced, as from that date, by a derogation (i.e., authorizations will have to be requested).
c. Reinforced and extended restrictions on items that may contribute to the enhancement of Russian industrial capacities (Annex XXIII of Regulation 833/2014)
Clarified and extended controls – The EU clarified that restrictions targeting items in Annex XXIII of Regulation 833/2014 apply regardless of whether or not those items originate in the EU.
Furthermore, the EU prohibited transit via Russia of items exported from the EU, but only for a sub-set of Annex XXIII items, namely those listed in a new Annex XXXVII to Regulation 833/2014.
Extended list of controlled items – Finally, the EU extended the list of items covered by Annex XXIII of Regulation 833/2014. Additions to this list concern notably chemicals, machinery and parts, construction-related goods, processed steel, copper and aluminium goods, lasers and batteries.
d. New measures on software for the management of enterprises and software for industrial design and manufacture (Annex XXXIX of Regulation 833/2014)
Scope of prohibitions – New prohibitions were introduced in relation to the:
– Sale, supply, transfer, export or provision of enterprises management and design-related software to the Government of Russia or entities in Russia;
– The provision of related services (technical assistance, brokering services, other services, financing or financial assistance) to the Government of Russia or entities in Russia.
Software covered – The following software are covered:19
– Software for the management of enterprises: enterprise resource planning (ERP), customer relationship management (CRM), business intelligence (BI), supply chain management (SCM), enterprise data warehouse (EDW), computerized maintenance management system (CMMS), project management, product lifecycle management (PLM) software and typical components of these suites, including software for accounting, fleet management, logistics and human resources;
– Design and manufacturing software: building information modelling (BIM), computer aided design (CAD), computer-aided manufacturing (CAM), engineer to order (ETO) and typical components of these suites.
Exemption and derogation – The following exemptions are foreseen:
– Wind-down by March 20, 2024, of contracts concluded before December 19, 2023, and ancillary contracts;
– Until June 20, 2024, services that are for the exclusive use of Russian entities that are owned or controlled by entities in the EU, EEA, Switzerland or a partner country;20
– Exemption for public health emergencies, human health and safety, environmental and natural disasters purposes.
Derogations available are aligned with those for restricted services under Article 5n of Regulation 833/2014 are also provided for.21
C. Introduction of a “No Russia” contractual clause requirement for contracts involving specific items traded with non-EU countries
Scope of the required clause – The EU introduced an obligation for operators to contractually prohibit the re-export of certain categories of sensitive items to or for use in Russia. Items concerned are:
– Aviation and space items, as listed in Annex XI of Regulation 833/2014;
– Jet fuels, as listed in Annex XX of Regulation 833/2014;
– Firearms, as listed in Annex I of Regulation 258/2012 and Annex XXXV of Regulation 833/2014;
– Common High Priority Items, as listed in a new Annex XL of Regulation 833/2014.
The clause must in addition contain adequate remedy in the event of breach of contractual obligation, while operators are required to report to national competent authorities any such breach.
Contracts concerned – The clause must be inserted in all contracts relating to the sale, supply, transfer or export of covered items to third countries, except for partner countries.22
Insertion in existing contracts – The clause will have to be inserted:
– As of March 20, 2024, for all contracts concluded after December 19, 2023;
– As of December 20, 2024, for contracts concluded before 19 December 2023 (unless the contract expires before that date).
III. PRICE CAP ON CRUDE OIL AND PETROLEUM PRODUCTS
The EU introduced tighter compliance rules to support the implementation of the price cap on Russian crude oil and petroleum products, seeking to clamp down on circumvention.
Enhanced attestation requirements – As of February 20, 2024, the EU will implement enhanced attestation requirements under the price cap. To benefit from the price cap, which permits to trade, broker or transport to third countries Russian crude oil or petroleum products where the price per barrel does not exceed a maximum price, service providers with no access to the purchase price per barrel will be required to collect itemized price information for ancillary costs (e.g., logistics, transport, etc.).
Competent authorities can request that information from any actor, regardless of their place in the supply chain, at any time, in order to verify compliance with the price cap mechanism.
New restrictions on tankers – The EU also imposed new restrictions targeting tankers for the transport of crude oil or petroleum products:23
– Prohibitions vis-à-vis Russia: EU persons (citizens, residents and entities) are prohibited to sell or transfer ownership of such tankers to or for use in Russia, unless authorized by national competent authorities.
– Reporting requirements in other cases: EU persons have to report any sale or transfer of ownership of such tankers to third countries other than Russia.
– Reporting requirements for prior transactions: sale or transfer of ownership of such tankers between 5 December 2022 and 19 December 2022 have to be notified by 20 February 2024.
Extended Japan-specific exemption for the Sakhalin-2 project – The EU also extended the exemption in relation to Japan and the Sakhalin-2 project. The transport by vessel to Japan of and services related to crude oil originating in Sakhalin-2 is exempted until 28 June 2024 (instead of 31 March 2024).
IV. RESTRICTIONS ON SERVICES
Extension of restrictions to related services – The EU completed services restrictions by additional prohibitions on related services. In addition to (i) accounting, auditing, including statutory audit, bookkeeping or tax consulting services, or business and management consulting or public relations services, (ii) architectural and engineering services, legal advisory services and IT consultancy services, (iii) market research and public opinion polling services, technical testing and analysis services and advertising services, it is now prohibited to provide the following related services:
– Technical assistance, brokering services or other services;
– Financing or financial assistance.
Phased-in replacement of exemption for Russian subsidiaries by a derogation – The exemption for Russian entities that are owned or controlled by entities in the EU, EEA, Switzerland or a partner country will stop applying as from June 20, 2024. In parallel, a derogation covering the same scope has been introduced and will continue to be available after June 20, 2024.
Removal of software update exemption – There is no longer an exemption from restrictions on IT consultancy services for the provision of services necessary for software updates for non-military use and for a non-military end user, which would otherwise be permitted under export control restrictions.
V. TRANSFER OF FUNDS OUT OF THE EU BY RUSSIAN-OWNED ENTITIES
The EU introduced new measures that will require the notification of transfers of funds exceeding 100 000 EUR out of the EU by EU entities directly or indirectly owned by more than 40% by Russians or entities established in Russia:
– As of May 1, 2024, EU entities that are Russian-owned will have to report every quarter on any transfer of funds out of the EU exceeding 100 000 EUR, in one or several operations;
– As of July 1, 2024, EU credit and financial institutions will have to report every semester on transfers of funds out of the EU that they initiated for the aforementioned EU entities where their cumulative amount exceeds 100 000 EUR during that semester.
The information will be used by Member States to assess breaches of EU sanctions and circumvention risks. The definition of funds is modelled on that applicable to asset freeze measures under Council Regulation (EU) No 269/2014 (“Regulation 269/2014“)24 and is, therefore, extremely broad in scope.25
VI. CRYPTO-SERVICE PROVIDERS
The EU further sought to limit circumvention of the prohibition on the provision of crypto-asset wallet, account or custody services to Russian persons and residents. It thus included a ban on Russian nationals or residents owning, controlling or holding post in the governing bodies of EU entities providing crypto-asset wallet, account or custody services.
EU, EEA and Swiss citizens, temporary or permanent residents are not subject to this prohibition.
VII. OTHER AMENDMENTS TO EXISTING EXEMPTIONS OR DEROGATIONS
A. Restrictions on Investments in Non-EU Entities Operating in the Energy Sector in Russia
The EU introduced a new derogation for financing certain deep-water offshore gas project in the Mediterranean Sea.
Article 3a of Regulation 833/2014 prohibits to provide new financing to non-EU entities operating in the energy sector in Russia. Under the new derogation, activities necessary to ensure the operation of certain deep-water offshore gas project in the Mediterranean Sea can be obtained, i.e., where an entity listed in Annex XIX was a minority shareholder before 31 October 2017 and remains so, while the project is controlled or operated by an EU entity.
B. Restrictions on (re-)financing
The EU implemented new notification requirements for the use of exemptions relating to loans/credits for entities subject to (re-)financing restrictions under Articles 5 and 5a of Regulation 833/2014.
The use of exemptions for (i) non-prohibited trade financing loans/credits, (ii) emergency funding loans/credits and (iii) drawdown or disbursements on pre-sanctions contracts must now be notified to national competent authorities.
C. Facilitating the Exit of Entities Subject to a Transaction Ban (Annex XIX of Regulation 833/2014)
The EU extended exemption for wind-down of joint ventures (“JVs“) with entities subject to a transaction ban. As a result, transactions strictly necessary for the wind-down of a JV concluded before March 16, 2022, involving an Annex XIX target can take place by December 31, 2024 (instead of December 31, 2023).
In addition, the derogation for divestment and withdrawal from EU entities of entities subject to a transaction ban (Annex XIX of Regulation 833/2014) have been extended. Transactions relating to the divestment and withdrawal by Annex XIX target from an EU entity can now be authorized until December 31, 2024 (instead of December 31, 2023).
D. Facilitating the Divestment or Wind-Down from Russia
The availability of derogations relating to export-related, import-related and services restrictions, permitting to obtain authorizations to carry out otherwise prohibited transactions in the context of a divestment or wind-down from Russia, has been extended until June 30, 2024, for trade control restrictions and July 31, 2024, for services restrictions (instead of, respectively, December 31, 2023, and March 31, 2024).
The EU also extended the derogation to divest from an EU JV involving Russian entities and operating a gas pipeline infrastructure between Russia and third countries. This specific derogation, which concerns restrictions on items listed in Annex II of Regulation 833/2014, has been extended until September 30, 2024 (instead of March 31, 2024).
VIII. MISCELLANEOUS AMENDMENTS
A. Clarifications of Bars to Reporting Obligations
The obligation to report information relating to the enforcement of asset freeze measures under Regulation 269/2014 and sectoral sanctions under Regulation 833/2014 must be:
– For asset freeze measures only, subject to national or other rules regarding the confidentiality of information held by judicial authorities; and
– For both, consistent with respect for the confidentiality of communications between lawyers and their clients, including under certain circumstances legal advice provided by other certified professionals who are authorized under national law to represent their clients in judicial proceedings.
B. Increased Information Sharing for Measures Targeting Russian Crude Oil and Petroleum Products
Member States are required to share information with each other, to identify vessels and entities of concerns carrying deceptive practices while transporting Russian crude oil and petroleum products.
C. Luxury Goods (Annex XVIII of Regulation 833/2014)
Amendments were made to clarify that export controls on luxury goods apply whether or not those goods originate in the EU.
D. Catch-All Exemption for Pilot Services
A catch-all exemption from sectoral sanctions under Regulation 833/2014 has been introduced for the provision of pilot services necessary for reasons of maritime safety.
E. Paks II Project in Hungary
Amendments were made to clarify that the “civil nuclear related activities” excluded from the definition of “energy sector” include, for instance, the Paks II project.
Amendments were also made to clarify that various derogations relating to civil nuclear capabilities cover, for instance, the Paks II project.
F. Housekeeping Changes
Various exemptions and derogations that provided for wind-down periods which have expired have been deleted.
* * * * *
1 Through Council Decision (CFSP) 2023/2871 of 18 December 2023 amending Decision 2014/145/CFSP concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, OJ L, 2023/2871, 18.12.2023, and Council Implementing Regulation (EU) 2023/2875 of 18 December 2023 implementing Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, OJ L, 2023/2875, 18.12.2023, available respectively at: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202302871; and https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202302875.
2 Through Council Decision (CFSP) 2023/2871 and Council Regulation (EU) 2023/2873 of 18 December 2023 amending Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, OJ L, 2023/2873, 18.12.2023, available at: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202302873&qid=1703012969252.
3 Through Council Decision (CFSP) 2023/2874 of 18 December 2023 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine, OJ L, 2023/2874, 18.12.2023, and Council Regulation (EU) 2023/2878 of 18 December 2023 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine, OJ L, 2023/2878, 18.12.2023, available respectively at: https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202302874&qid=1703013389903; and https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=OJ:L_202302878&qid=1703013464693.
4 Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilizing the situation in Ukraine, OJ L 229, 31.7.2014, p. 1, as amended.
5 Those products fall under CN codes 7102 10 (Unsorted diamonds), 7102 31 (Non-industrial diamonds, unworked or simply sawn, cleaved or bruted), 7102 39 (Non-industrial diamonds, other than unworked or simply sawn, cleaved or bruted), 7104 21 (Synthetic or reconstructed diamonds, unworked or simply sawn or roughly shaped), 7104 91 (Synthetic or reconstructed diamonds, other than unworked or simply sawn or roughly shaped), ex 7113 (Articles of jewelry and parts thereof, of precious metal or of metal clad with precious metal, incorporating diamonds), ex 7114 (Articles of goldsmiths’ or silversmiths’ wares and parts thereof, of precious metal or of metal clad with precious metal, incorporating diamonds), ex 7115 90 (Other articles of precious metal or of metal clad with precious metal, incorporating diamonds, not elsewhere specified, excluding platinum catalysts in the form of wire cloth or grill), ex 7116 20 (Articles of natural or cultured pearls, precious or semi-precious stones (natural, synthetic or reconstructed), incorporating diamonds), ex 9101 (Wristwatches, pocket-watches and other watches, including stopwatches, incorporating diamonds, with case of precious metal or of metal clad with precious metal).
6 Those products are listed in Part A of Annex XXXVIIIA of Regulation 833/2014.
7 This corresponds to products falling under CN codes 7102 31 00 and 7102 10 00.
8 This authority is defined in Annex XXXVIIIB of Regulation 833/2014, which currently refer to Federal Public Service Economy at the Diamond Office, with registered address at Hoveniersstraat 22, B-2018 Antwerpen Belgium.
9 Council Regulation (EC) No 2368/2002 of 20 December 2002 implementing the Kimberley Process certification scheme for the international trade in rough diamonds, OJ L 358, 31.12.2002, p. 28, as amended, available at: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02002R2368-20220825.
10 See inter alia G7 Leaders’ Statement from December 6, 2023, available at: https://www.consilium.europa.eu/media/68615/g7-leaders-statement-2023-12-6.pdf.
11 This concerns iron and steel products classified under CN codes 7207 12 10 (Semi-finished products of iron or non-alloy steel, containing by weight less than 0,25 % of carbon, of rectangular (other than square) cross-section, rolled or obtained by continuous casting) and 7224 90 (Semi-finished products of other alloy steel).
12 This list is contained in Annex XXXVI to Regulation 833/2014.
13 This concerns goods classified under CN codes 7205 (Granules and powders of pig iron, spiegeleisen, iron or steel), 7408 (Copper wire), 7604 (Aluminium bars, rods and profiles), 7605 (Aluminium wire), 7607 (Aluminium foil (whether or not printed or backed with paper, paperboard, plastics or similar backing materials), of a thickness (excluding any backing) not exceeding 0,2 mm) and 7608 (Aluminium tubes and pipes).
14 This corresponds to goods classified, respectively, under CN codes 7201 (Pig iron and spiegeleisen in pigs, blocks or other primary forms) and 7203 (Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or similar forms; iron having a minimum purity by weight of 99,94 %, in lumps, pellets or similar forms).
15 This corresponds to goods classified under CN code 8703 (Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 8702), including station wagons and racing cars).
16 This corresponds to goods classified under CN code 8703 (Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 8702), including station wagons and racing cars).
17 This corresponds to goods classified under CN code 2710 19 71 (Petroleum oils and oils obtained from bituminous minerals (other than crude) and preparations not elsewhere specified or included, containing by weight 70% or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, other than those containing biodiesel and other than waste oils, other oils for undergoing a specific process).
18 This corresponds to individuals and entities listed in Annex IV of Regulation 833/2014.
19 As per the new Annex XXXIX to Regulation 833/2014.
20 As listed in Annex VIII of Regulation 833/2014. The list currently includes the United States of America, Japan, the United Kingdom, South Korea, Australia, Canada, New Zealand and Norway.
21 In summary, this concerns humanitarian purposes, civil society activities, diplomatic and consular missions, critical energy supply and raw materials, human health and safety, safety of the environment, civil nuclear capabilities and facilities, certain precursor materials for medical purposes, environmental radiation monitoring, civil nuclear cooperation, electronic communication services by Union telecommunication operators. This also concerns the new derogation relating to the exclusive use of Russian entities that are owned or controlled by entities in the EU, EEA, Switzerland or a partner country.
22 As listed in Annex VIII of Regulation 833/2014. The list currently includes the United States of America, Japan, the United Kingdom, South Korea, Australia, Canada, New Zealand and Norway.
23 This covers products falling under HS code ex 8901 20.
24 Council Regulation (EU) No 269/2014 of 17 March 2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, OJ L 78, 17.3.2014, p. 6, as amended.
25 It covers (i) cash, cheques, claims on money, drafts, money orders and other payment instruments; (ii) deposits with financial institutions or other entities, balances on accounts, debts and debt obligations; (iii) publicly- and privately-traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivatives contracts; (iv) interest, dividends or other income on or value accruing from or generated by assets; (v) credit, right of set-off, guarantees, performance bonds or other financial commitments; (vi) letters of credit, bills of lading, bills of sale; and (vii) documents showing evidence of an interest in funds or financial resources.
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