Sanctions European Union to Russia

Main Sanctions

8 April 2022:

1-Import ban on all forms of Russian coal. This affects one fourth of all Russian coal exports, amounting to around €8 billion loss of revenue per year for Russia.

2-Financial measures:

• A full transaction ban and asset freeze on four Russian banks, which are now totally cut off from the markets. They represent 23% of market share in the Russian banking sector
• A prohibition on providing high-value crypto-asset services to Russia
• A prohibition on providing advice on trusts to wealthy Russians

3-Transport

• A full ban on Russian and Belarusian freight road operators working in the EU. Certain exemptions will cover essentials, such as agricultural and food products, humanitarian aid as well as energy.
• An entry ban on Russian-flagged vessels to EU ports. Exemptions apply for medical, food, energy, and humanitarian purposes, amongst others.

4-Targeted export bans

• Further targeted export bans in areas in which Russia is vulnerable due to its high dependency on EU supplies. This includes, for example, quantum computing, advanced semiconductors, sensitive machinery, transportation and chemicals
• Jet fuel and fuel additives, which may be used by the Russian army

5-Extending import bans

• Cement
• Rubber products
• Wood
• Spirits (including vodka)
• Liquors
• High-end seafood (including caviar)

6-Excluding Russia from public contracts and European money

• Full prohibition on the participation of Russian nationals and entities in procurement contracts in the EU. Limited exceptions may be granted by the competent authorities where there is no viable alternative.
• Restriction on financial and non-financial support to Russian publicly owned or controlled entities under EU, Euratom and Member State programmes.
• Extending to all official EU currencies the prohibitions on the export of banknotes and on the sale of transferrable securities.

15 March 2022:

1. Prohibition of all transactions with certain state-owned enterprises
2. Prohibition on the provision of any credit rating services to a Russian person or entity
3. Expansion of the list of persons included in the tighter export restrictions list on dual-use goods and technology which might contribute to Russia’s technological enhancement of its defense and security sector
4. Prohibition of new investments in the Russian energy sector
5. Restrictions on the export of equipment, technology and services for the Russian energy industry
6. New restrictions concerning the iron and steel sectors, as well as luxury goods

9 March 2022:

1. Prohibition on the sale, supply, transfer or export, directly or indirectly, of European Union maritime shipping goods and technology to any person or entity in Russia, for use in Russia, or for placing on board a Russian flagged vessel;
2. Increase of the list of persons, entities and bodies subject to the restrictive measures previously announced by the EU. The list now contains 862 persons and 83 entities.

2 March 2022:

1. Ban on the use of the SWIFT system by certain Russian banks and introduction of further economic and financial restrictions.
2. Suspension of the broadcasting of the Russian state media RT/Russia Today and Sputnik in the EU.

28 February 2022:

1. Ban on conducting transactions with the Central Bank of Russia.
2. Ban on overflight of EU airspace and on access to EU airports by Russian air carriers.
3. Further sanctions on 26 additional persons and one entity

25 February 2022:

1. 1. Assets freezing of Vladimir Putin, President of the Russian Federation, and Sergey Lavrov, Foreign Minister of the Russian Federation. Imposition of restrictive measures on members of the National Security Council of the Russian Federation and remaining members of the Russian State Duma who supported Russia’s immediate recognition of the self-proclaimed “republics” of Donetsk and Luhansk.
2. New package of individual and economic measures covering the financial, energy, transport and technology sectors, as well as visa policy.

23 February 2022:

1. Targeted sanctions against the 351 members of the Russian State Duma and 27 other persons.
2. Restrictions on economic relations with Donetsk and Luhansk provinces.
3. Restrictions on Russian access to EU capital and financial markets and services.

Impacts

Aviation and Tourism

28 February 2022: EU Member States refuse to allow all aircraft operated by Russian carriers, including commercial carriers, to land in, take off from, or overfly their territories, all aircraft registered in Russia, or all aircraft not registered in Russia but owned or chartered or otherwise controlled by a Russian natural or legal person.

25 February 2022: A ban on the export of goods and technology in the aviation and space industry, as well as a ban on the provision of insurance and reinsurance services and maintenance services related to these goods and technologies, and a prohibition on the provision of technical and financial assistance in this sector. The ban on the sale of aircraft, spare parts and equipment to Russian airlines is expected to deteriorate one of the key sectors of the Russian economy, as well as the country’s connectivity.

Energy

25 February 2022: A ban on the sale, supply, transfer or export to Russia of specific goods and technologies in the oir refining sector and new restrictions on the provision of related services. This ban is intended to hit the Russian oil sector, preventing Russia from modernising its oil refineries.

Banking and Finance

2 March 2022: Prohibition of providing specialised financial services, which are used for the exchange of financial data (SWIFT), to Otkritie Bank, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, VNESHECONOMBANK (VEB), and VTB BANK. This prohibition will also apply to any legal person or entity established in Russia whose property rights are directly or indirectly owned by more than 50% by the above-mentioned banks.
Prohibition to invest, participate or contribute in any other way to future projects co-financed by the Russian Investment Fund.
Prohibition on the sale, supply, transfer or export of euro banknotes to Russia or to any natural or legal person, or entity in Russia, including the government and the Central Bank of Russia, or for use in Russia.

28 February 2022: Prohibition to conduct transactions with the Central Bank of Russia or any legal person or entity acting on behalf of or under the direction of the Central Bank of Russia.

25 February 2022: Extension of existing financial restrictions, preventing Russia’s access to major capital markets. It also prohibits the publication and provision of services relating to shares held by Russian state-owned entities on EU trading platforms. It introduces new measures that substantially limit financial flows from Russia to the EU by prohibiting the acceptance of deposits exceeding certain amounts from Russian citizens or residents, the holding of Russian clients’ accounts by EU central securities depositories, and the sale of euro-denominated securities to Russian clients.
The sanctions target 70% of the Russian banking market and major state-owned companies, including in the field of defence. They will raise the cost of Russian borrowing, increase inflation and gradually weaken the country’s industrial base. Measures have been taken to prevent the fortunes of the Russian elite from being hidden away in Europe.

23 February 2022: Sectoral ban on providing financing to the Russian Federation, its Government and its Central Bank. By restricting the ability of the Russian state and government to access EU financial and capital markets and services, the Union’s aim is to limit the financing of aggressive and escalating policies.

Others

2 March 2022: Operators are prohibited to broadcast or enable, facilitate or otherwise contribute to the broadcasting of any content by legal persons or entities
RT – Russia Today English, RT – Russia Today UK, RT – Russia Today Germany, RT – Russia Today France, RT – Russia Today Spanish, Sputnik, including by transmitting or distributing it by any means such as cable, satellite, IP-TV, internet service providers, internet video-sharing platforms or applications, whether new or pre-installed.
All broadcasting licences or authorisation, transmission and distribution agreements with the listed legal persons, entities or bodies must be suspended.

25 February 2022: New restrictions on exports of dual-use goods and technologies, as well as on exports of certain goods and technologies that could contribute to the technological enhancement of the Russian defence and security sector.
Products such as semiconductors or cutting-edge technologies are included. Russian diplomats, other officials and businessmen will no longer be able to benefit from visa facilitation provisions, which allow privileged access to the EU. This decision will not affect ordinary Russian citizens.