Expeditors Newsflash

EU Adopts 15th Round of Russian Sanctions

Posted by Jessica Hajj on 12/17/24 5:00 PM

In a press release published on December 16, 2024, the European Council announced the adoption of a 15th round of sanctions against Russia. These measures are intended to address the circumvention of EU sanctions and weaken Russia’s military and industrial complex.

Key elements of this sanction package include:

  • The council has added 84 new listings, which consist of 54 persons and 30 entities responsible for actions undermining or threatening Ukraine's territorial integrity, sovereignty, and independence.
  • Additional vessels are added to the list of vessels subject to a port access ban and ban on the provision of a broad range of services related to maritime transport.
  • The Council also added 32 new entities to the list of those directly supporting Russia’s military and industrial complex in its war of aggression against Ukraine. These will be subject to tighter export restrictions concerning dual-use goods and technologies.
  • The EU prohibited the recognition or enforcement in the EU of rulings issued by Russian courts based on Article 248 of the Arbitration Procedure Code of the Russian Federation.
  • The Council introduced a derogation allowing the release of cash balances held by EU central securities depositories (CSDs).
  • The EU extended the deadlines applicable to certain derogations needed for divestments from Russia. Because of the risks of maintaining business activities in Russia, EU operators should consider winding down businesses in Russia and/or not starting new businesses there. 

The press release from the Council of the EU can be found here:
https://www.consilium.europa.eu/en/press/press-releases/2024/12/16/russia-s-war-of-aggression-against-ukraine-eu-adopts-15th-package-of-restrictive-measures/

The sanction package can be read in full here:
https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32024R3192

Topics: Sanctions, EU

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