Author: Nicola Sharp
27 February 2023
2 min read
Rahman Ravelli details the key points in the latest package of sanctions announced by the European Union.
The European Union has agreed a 10th package of sanctions against Russia and those that support its illegal invasion of Ukraine.
The package includes a number of significant measures that build upon the sanctions already imposed by the EU.
The package also includes the addition of seven Iranian entities to the EU’s Russia dual-use sanctions. This is a response to the Iran Revolutionary Guards’ alleged provision of Shahed drones to be used to attack civilian infrastructure in Ukraine.
A total of almost 100 people and entities are sanctioned under the new package.
The package also contains measures to prevent circumvention. These include the creation of an “overview” of all frozen assets of the Russian central bank held in the EU alongside Member States. Three Russian banks have been added to the list of entities subject to the asset freeze and the prohibition to make funds and economic resources available. Other measures include a ban on Russian nationals serving on governing bodies of Member States' critical infrastructure companies, a prohibition on Russian nationals and entities booking gas storage capacity in the Union (excluding liquefied natural gas), measures to facilitate the divestment from Russia by EU operators, and a requirement of advance notification of any private flights between the EU and Russia, either directly or via third countries.
In addition, the EU sanctions envoy David O'Sullivan has been reaching out to third countries, to ensure strict implementation of sanctions and prevent circumvention. On 23 February, the first Sanctions Coordinators Forum took place in Brussels, gathering Member States and other countries to strengthen enforcement efforts.
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