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.