“These latest sanctions were adopted following the atrocities committed by Russian armed forces in Bucha and other places under Russian occupation. The aim of our sanctions is to stop the reckless, inhuman and aggressive behaviour of the Russian troops and make clear to the decision makers in the Kremlin that their illegal aggression comes at a heavy cost.”
- Josep Borrell, High Representative for Foreign Affairs and Security Policy
Regulation 2022/581 of April 8, 2022 implements a new round of restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. The package includes:
- a prohibition to purchase, import or transfer coal and other solid fossil fuels into the EU if they originate in Russia or are exported from Russia, as from August 2022.
- a prohibition to provide access to EU ports to vessels registered under the flag of Russia.
- a ban on any Russian and Belarusian road transport undertaking preventing them from transporting goods by road within the EU, including in transit.
- further export bans, targeting jet fuel and other goods such as quantum computers and advanced semiconductors, high-end electronics, software, sensitive machinery and transportation equipment, and new import bans on products such as: wood, cement, fertilizers, seafood and liquor.
- a series of targeted economic measures intended to strengthen existing measures and close loopholes, such as: a general EU ban on participation of Russian companies in public procurement in member states, the exclusion of all financial support to Russian public bodies. an extended prohibition on deposits to crypto-wallets, and on the sale of banknotes and transferrable securities denominated in any official currencies of the EU member states to Russia and Belarus, or to any natural or legal person, entity or body in Russia and Belarus.
- companies whose products or technology have played a role in the invasion, key oligarchs and businesspeople, high-ranking Kremlin officials, proponents of disinformation and information manipulation, systematically spreading the Kremlin’s narrative on Russia’s war aggression in Ukraine, as well as family members of already sanctioned individuals.
- full transaction ban is imposed on four key Russian banks representing 23% of market share in the Russian banking sector. After being de-SWIFTed these banks will now be subject to an asset freeze, thereby being completely cut off from EU markets.
How does it impact you?
Our sanctions list is used in:
- AMLspotter,
- AMLspotter Online,
- BNC,
- BNC XS,
- WEB BNC,
- KYC & AML cloud suite
- Microsoft Dynamics 365 KYC Addon
- RiskAPI.
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