On February 25, 2023, the EU adopted the 10th package of sanctions against Russia. What matters
European Union Regulation (EU) 2023/427, which is EU regulation (EU) No.
It further amends 833/2014.

Targeted Sanctions

A further 87 individuals and 34 institutions were added to the EU sanctions list. Details are below;

• The National Wealth Fund of the Russian Federation and the Russian National Reinsurance Company, Alfa-Bank,
Rosbank and Tinkoff Bank;

• Sovcomflot (SCF Group) is a Dubai-based company, Russia’s largest shipping company.
the ship management company SUN Ship Management (D) Ltd;

• Members of the Federation Council of the Russian Federation, senior government officials, military
leaders and members of Russia’s Wagner mercenary group;

• Companies producing weapons for the Russian armed forces;

• “proxy authorities” in non-government-controlled regions of Ukraine; and

• Iran accused of providing drones for Russia’s use in Ukraine
citizens.

Trade Sanctions

The following transportation-related precautions have been taken. (All references in parentheses, edited
Relates to European Union Regulation 833/2014).

• Russia’s military and technological strengthening or the defense and security sector
(list of restricted substances that may contribute to the development of
Specific electronic components used in Russian weapon systems (specified in Annex VII),
special rare earth materials, electronic integrated circuits and thermal cameras
with the addition of
• Providing significant revenues to Russia further restrictions on imports of goods into the EU
introduced (as specified in Part XXI C of Amended Article 3i), for example, asphalt,
such as carbon and synthetic rubber. Contracts concluded before February 26, 2023
there is a reduction period for these goods until May 27, 2023. CN codes
Goods under 2803 (carbon) and 4002 (synthetic rubber), respectively

752,475 metric tons and 562,973 metric tons subject to import quotas until June 30, 2024
valid until

• Spare parts for electronics, special vehicles, machine parts, truck and jet engines
parts and construction that can be redirected for use by the Russian military
export of critical technology and industrial goods to Russia, such as materials for the industry
more prohibitions are introduced (in Part XXIII C of regulated Article 3k
as specified). 27 for contracts concluded before February 26, 2023 for these goods
There are provisions for a reduction until March 2023.

Anti-Barrier Measures

EU bans transit through Russian territory for dual-use goods and advanced technology
(Article 2 amended). This means that these goods can no longer be exported from the EU to third countries
It means that it cannot transit through Russian territory.

Maritime pilotage services

The EU will allow Russia to provide pilot services to ships required for maritime security reasons.
the prohibition on transactions with State-owned entities does not apply (Article 5aa. Article
changed).

EU gas storage

Gas storage capacity within the EU is not available to Russian citizens, residents or Russian entities.
is prohibited (new Article 5p.). This prohibition applies to liquefied natural
does not apply to gas installations. For contracts signed before February 26, 2023
for ‘strictly necessary operations’, provided that they are terminated by March 27, 2023.
has a reduction period. The competent authorities of EU Member States are required to ensure that critical energy
to authorize the provision of storage capacity if necessary to ensure the supply of
given.
Further details of these sanctions can be found in the European Commission Press Release and FAQs.
Members recall that EU sanctions apply in the following situations:
-within the territory of the EU, including airspace
-on any aircraft or vessel under the jurisdiction of EU Member States
-any person inside or outside the territory of the EU who is a national of an EU Member State
-within the EU or established or constituted under the law of a Member State of the EU
any legal person, organization or body other than
-any legal person in relation to any transaction carried out in whole or in part in the EU,
organization or body

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