EU amends and clarifies Russia sanctions

Posted on December 5, 2014 by Maya Lester on europeansanctions.com 

The European Union has today published amendments to its sanctions regime against Russia, in Council Regulation (EU) No 1290/2014 which amends Council Regulation (EU) No 833/2014 and Council Decision 2014/872/CFSP which amends Council Decision 2014/512/CFSP.

The Council of the EU says it has done so because "it is necessary to clarify certain provisions" in its previous measures imposing sanctions on Russia. It has amended / clarified the provisions relating to:

1. The prohibitions on (and exceptions to the prohibition on) making new loans or credit with a maturity exceeding 30 days to certain entities in certain circumstances; and
2. The prohibitions and restrictions on the sale / supply / export of oil exploration and production projects in Russia and its Exclusive Economic Zone and Continental Shelf.

The new provisions are on the 'sanctions in force' section of this blog.

Read the full post here: http://europeansanctions.com/2014/12/05/eu-amends-and-clarifies-russia-sanctions/

End notes

This article first appeared on European Sanctions Law & Practice (http://europeansanctions.com/), a blog by Maya Lester (+44 20 7379 3550, maya.lester@brickcourt.co.uk), a barrister at Brick Court Chambers, and Michael O'Kane (+44 (0) 20 7822 7777 mokane@petersandpeters.com), head of Business Crime at Peters & Peters.