03 June 2022

EU ADOPTS SIXTH PACKAGE OF SANCTIONS AGAINST RUSSIA AND BELARUS

On 3 June, the Council decided to impose a sixth package of economic and individual sanctions targeting both Russia and Belarus, which includes a series of measures intended to effectively thwart Russian abilities to continue the aggression against Ukraine.

The EU decided to prohibit the purchase, import or transfer of crude oil and certain petroleum products from Russia into the EU. The phasing out of Russian oil will take from 6 months for crude oil to 8 months for other refined petroleum products. A temporary exception is foreseen for imports of crude oil by pipeline into those EU member states that, due to their geographic situation, suffer from a specific dependence on Russian supplies and have no viable alternative options. Moreover, Bulgaria and Croatia will also benefit from temporary derogations concerning the import of Russian seaborne crude oil and vacuum gas oil respectively.

Additionally, the EU is expanding the list of persons and entities concerned by export restrictions regarding dual-use goods and technology. Such additions to the list include both Russian and Belarusian entities. Moreover, the EU will expand the list of goods and technology which may contribute to the technological enhancement of Russia‚Äôs defence and security sector. This will include 80 chemicals which can be used to produce chemical weapons.

The EU is also extending the existing prohibition on the provision of specialised financial messaging services (SWIFT) to three additional Russian credit institutions - Russia's largest bank Sberbank, Credit Bank of Moscow, and Russian Agricultural Bank - and the Belarusian Bank for Development And Reconstruction.

Other sanctions concern broadcasting, consulting services, private individual and entities.

Source and more information: EU Council