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28 February 20243 minute read

EU adds nearly 200 asset freeze listings, expands export restrictions with 13th Russia sanctions package

On Friday 23 February 2024, the Council of the European Union adopted the EU’s 13th sanctions package against Russia. The package was adopted to coincide with the second anniversary of Russia’s invasion into Ukraine. The package comprises of Council Regulation (EU) 2024/745 which amends Regulation (EU) No 833/2014, and Council Implementing Regulation (EU) 2024/753 implementing Regulation (EU) No 269/2014. The package entered into force Friday and Saturday 24 February 2024.

The package includes:

New designations

  • An additional 194 individuals and entities are designated onto the asset freeze and travel ban list. The additions include 106 individuals and 88 entities.
  • Among the individuals are executives of military-industrial firms which provide armaments and support to Russia’s campaign, as well as officials working in occupied Ukraine territories on Russia’s behalf.
  • Entities added include Russian military-industrial and shipping and logistics companies.

Trade restrictions

  • 27 Russian and third country companies are added to Annex IV of Regulation (EU) No 833/2014 – the list of entities directly supporting Russia’s military-industrial complex in Ukraine – on which tighter export restrictions regarding dual-use goods and technology, as well as goods and technology which might contribute to the technological enhancement of Russia’s defense and security sector, are imposed.
    • 17 of the companies are Russian and involved in the development, production and supply of electronic components, particularly used in connection with drone production.
    • Four are Chinese companies, and one each is registered in Kazakhstan, India, Serbia, Thailand, Sri Lanka, and Turkey, also trading in the area of electronic components, including of EU-origin.
  • The package expands the list of advanced technology items generally prohibited for export to Russia, as these items may contribute to Russia’s military and technological enhancement or to the development of its defense and security sector. Added are components used for the development and production of drones, such as electrical transformers, static converters (for example, rectifiers) and inductors found inter alia in drones. For these items, a new exemption has been introduced allowing the execution of existing contracts until 25 May 2024.
  • Aluminium capacitors, which have military applications such as in missiles and drones and in communication systems for aircrafts and vessels, are also added to the list of items generally prohibited for export to and also transit through Russia.

International cooperation trade measures

  • The United Kingdom is added to the partner countries list of Switzerland and Norway for iron and steel imports. Imports from the listed partner countries are exempt from the requirement for importers to provide evidence of the country of origin of the iron and steel inputs because the partner countries already apply substantially equivalent restrictive measures as the EU does to imports of iron and steel. This will ease the import of iron and steel products.