EU Council adopts the 9th package of sanctions against Russia
On 16 December 2022, the EU Council adopted the ninth package of economic and individual sanctions against Russia. The package was formed in response to ongoing attacks by Russia on Ukrainian power infrastructure. It includes a series of measures intended to hinder Russia’s ability to continue its aggression against Ukraine.
The package takes the form of amending regulations:
- Council Regulation (EU) 2022/2474, which amends the core sectoral sanctions regime on Russia set out in Council Regulation (EU) 833/2014 (Regulation 833)
- Council Regulation (EU) 2022/2475, which amends the existing asset freeze framework on Russia set out in Council Regulation (EU) 269/2014 (Regulation 269)
- Regulation 269 is further amended through the addition of extra designations under EU Implementing Regulation 2022/2476
We summarise below the key changes introduced.
New export controls
The EU imposes additional export restrictions on dual-use goods and technology by expanding the list of goods and technology which may contribute to the technological enhancement of Russia’s defence and security sector. EU also expands the export ban on aviation and the space industry related goods and technology to include aircraft engines and their parts, a prohibition that will apply to both manned and unmanned aircrafts.
Additional designations to the asset-freezing list
141 individuals and 49 entities have been added as designated persons to the existing asset-freezing list under Regulation 269. Among the designated persons are two Russian banks: Credit Bank of Moscow and JSC Dalnevostochniy Bank. Additionally SBK ART LLC, a former subsidiary of Sberbank has also been designated.
Defence and industrial companies, political parties, and a number of Russian media companies, including All-Russia StateTelevision, Radio Broadcasting Company, and National Media Group have also been added to the list.
The Russian Regional Development Bank has not been added to the asset freeze list but is subject to the full transaction ban under Regulation 833 (see below).
The list of Russian entities subject to the EU’s broadcasting restrictions has been expanded to include four additional media outlets, namely, NTV/NTV Mir, Rossiya 1, REN TV, and Pervyi Kanal.
Russian state-owned entities
A new prohibition comes into effect, restricting EU persons from holding any posts in the governing bodies of all Russian State-owned or controlled legal persons, entities or bodies located in Russia.
Furthermore, as noted above, the Russian Regional Development Bank has been added to the list of Russian State-owned or controlled entities subject to a full transaction ban with EU persons.
Restrictions on the provision of EU advertising, market research, and public opinion polling services, as well as product testing and technical inspection services to Russia, have been also introduced.
Energy and mining areas
The EU expands the prohibition targeting new investments in the Russian energy sector by prohibiting new investments in the Russian mining and quarrying sectors.
In addition to the above economic sanctions, the EU Council decided to implement a comprehensive package of individual measures, listing a very significant number of additional individuals and entities including significant oligarchs and their family members.
Council Regulation (EU) 2022/2474 amending Regulation 833 can be found here.
Council Regulation (EU) 2022/2475 amending Regulation 269 can be found here.
The official press release on the 9th package can be found here.