The EU Council adopted the 14th package of sanctions against the Russian Federation: details

116 individuals and legal entities from the Russian Federation, responsible for the war against Ukraine, came under restrictive measures.

The Council of the European Union approved the 14th package of sanctions against Russia. The corresponding decision was made on June 24, “Economic Pravda”writes.

As noted in the Council, these sanctions “will deal a further blow to the Putin regime and those who support his illegal, unprovoked and unjustified war of aggression against Ukraine.”

In particular, the EU will ban transshipment services of Russian LNG on the territory of European countries for the purpose of re-export to other countries. This applies to both ship-to-shore and ship-to-ship operations.

In addition, the Council of Ministers will prohibit new investments, as well as the provision of goods, technologies and services for such LNG projects as Arctic LNG 2 and Murmansk LNG. Restrictions will also be imposed on the import of liquefied natural gas through EU terminals that are not connected to the natural gas system.

Also, for the first time, the Council of the EU adopted sanctions aimed at specific vessels for their participation in the Russian war of aggression against Ukraine. The ban was extended to the transportation of goods by road transport from the Russian Federation to the territory of the EU, in particular, by transit.

Instead, to prevent the re-export of military goods to Russia, the EU requires operators to implement due diligence mechanisms. Companies will also be responsible for ensuring that their “subsidiary” firms in third countries do not circumvent sanctions. Such enterprises will be obliged to add clauses to contracts prohibiting the use of industrial know-how for goods intended for Russia.

The EU Council also introduced financial restrictions against Russians. It is about banning the use of the “Financial Messaging System” (SPFS) and transactions with persons using SPFS outside of Russia. Transactions with credit institutions and suppliers of cryptoassets that support the Kremlin’s military-industrial base are also prohibited.

In addition, the EU extended the flight ban to any aircraft used for non-scheduled flights. Operators must provide information on such flights, including details of aircraft ownership and possibly passengers.

The USA also recently imposed sanctions against Russian operators of gas carriers and LNG processing projects. In particular, Artik LNG projects were subject to restrictions.