In June, the EU adopted it's 14th sanctions package against Russia since its invasion of Ukraine in 2022. The package introduced several targeted measures on the Russian LNG sector among other restrictions. Read more here: https://whcs.law/3W41VFR #sanctions #EU #LNG
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On 24 June 2024, the European Union adopted its 14th sanctions package against Russia since its invasion of Ukraine in 2022. This package introduces a number of targeted measures on the Russian LNG sector. It also strengthens existing anti-circumvention and due diligence requirements in particular for EU parents of international groups, expands trade-related and financial constraints, and tightens transport restrictions. 71 individuals and 51 entities have been added to the EU's asset freeze list. Read our overview here. https://ow.ly/PuTN50SAFev #whitecase
14th EU Sanctions Package targets Russian LNG and political donations, expands import and export bans and closes loopholes | White & Case LLP
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On 24 June 2024, the European Union adopted its 14th sanctions package against Russia since its invasion of Ukraine in 2022. This package introduces a number of targeted measures on the Russian LNG sector. It also strengthens existing anti-circumvention and due diligence requirements in particular for EU parents of international groups, expands trade-related and financial constraints, and tightens transport restrictions. 71 individuals and 51 entities have been added to the EU's asset freeze list. Read our overview here. https://ow.ly/y9i750SAGSH #whitecase
14th EU Sanctions Package targets Russian LNG and political donations, expands import and export bans and closes loopholes | White & Case LLP
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On 24 June 2024, the European Union adopted its 14th sanctions package against Russia since its invasion of Ukraine in 2022. This package introduces a number of targeted measures on the Russian LNG sector. It also strengthens existing anti-circumvention and due diligence requirements in particular for EU parents of international groups, expands trade-related and financial constraints, and tightens transport restrictions. 71 individuals and 51 entities have been added to the EU's asset freeze list. Read our overview here. https://ow.ly/cYup50SAPpP #whitecase
14th EU Sanctions Package targets Russian LNG and political donations, expands import and export bans and closes loopholes | White & Case LLP
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A new, already 14th, EU sanctions package against Russia was adopted today! The package affects energy, finance, and trade and implements new anti-circumvention rules. Among other measures, new compliance obligations were adopted for some EU operators. Thus, the Council decided that EU operators selling battlefield goods or other items critical to developing Russian military systems to third countries will need to implement due diligence mechanisms capable of identifying and assessing risks of re-exportation to Russia and mitigating them. Besides, the package includes measures to allow EU operators to claim compensation from damages caused by Russian companies due to sanctions implementation and expropriation. You may find more details in the latest EU Council press release https://lnkd.in/eruJPby9
Russia’s war of aggression against Ukraine: comprehensive EU’s 14th package of sanctions cracks down on circumvention and adopts energy measures
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The EU considers further sanctions against Russia, including banning trans-shipment of Russian LNG and prohibiting EU ports for vessels aiding Russia's war efforts. Proposed measures aim to limit Russia's revenue from LNG sales and hold EU operators accountable for sanctions violations, with due diligence requirements for sensitive exports. Sanctions extend to political entities benefiting from Russia and include adding specific media outlets to the sanctioned list. Tightened restrictions on flights, road transport, and financial transactions are also proposed. Certain diamond imports before specified dates may be exempt. #EU #RussiaSanctions #LNGBan #SanctionsEnforcement 🚫🛳️💎
New EU Sanctions Could Hit Russian Shipping
marinelink.com
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🆕📢 European Council adopts 14th Sanctions Package against Russia The European Council adopted the new 14th package of economic and individual restrictive measures against Russia. ❗ Key highlights: 💡 Energy Sector The measures include bans on the transshipment of Russian LNG in EU ports for onward delivery to third countries, as well as restrictions on new investments and imports related to significant Russian LNG projects. 🔍 Anti-Circumvention Efforts The EU is strengthening its efforts against circumvention by requiring EU parent companies to prevent subsidiaries in third countries from undermining the objectives of the sanctions. 🚫 Funding Restrictions The Council has decided that political parties, foundations, NGOs (including think tanks), or media service providers in the EU may no longer accept funds from the Russian state and its proxies. 🚢 Transport Sector The EU has introduced targeted restrictions on ships involved in Russia's military activities. Restrictions on unplanned flights and road transport linked to Russian interests have also been expanded. The ban on aircraft landing, taking off, or overflying EU airspace applies even to charter flights where Russian entities control the flight's location and timing. 📜 Sanctions List The Council has added 61 new entities to the list of supporters of the Russian military-industrial complex in the aggression against Ukraine. These entities face stricter export restrictions on dual-use goods and technologies, as well as items that could technologically enhance Russia's defense and security industry. #DeloitteLU #AML/CTF #EU #14thSanctionsPackage
Russia’s war of aggression against Ukraine: comprehensive EU’s 14th package of sanctions cracks down on circumvention and adopts energy measures
consilium.europa.eu
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further strengthening of EU sanctions against Russia, including but not limited to circumvention risks. => Read the main features and check if/how your control framework can capture this from yesterday onwards.
🆕📢 European Council adopts 14th Sanctions Package against Russia The European Council adopted the new 14th package of economic and individual restrictive measures against Russia. ❗ Key highlights: 💡 Energy Sector The measures include bans on the transshipment of Russian LNG in EU ports for onward delivery to third countries, as well as restrictions on new investments and imports related to significant Russian LNG projects. 🔍 Anti-Circumvention Efforts The EU is strengthening its efforts against circumvention by requiring EU parent companies to prevent subsidiaries in third countries from undermining the objectives of the sanctions. 🚫 Funding Restrictions The Council has decided that political parties, foundations, NGOs (including think tanks), or media service providers in the EU may no longer accept funds from the Russian state and its proxies. 🚢 Transport Sector The EU has introduced targeted restrictions on ships involved in Russia's military activities. Restrictions on unplanned flights and road transport linked to Russian interests have also been expanded. The ban on aircraft landing, taking off, or overflying EU airspace applies even to charter flights where Russian entities control the flight's location and timing. 📜 Sanctions List The Council has added 61 new entities to the list of supporters of the Russian military-industrial complex in the aggression against Ukraine. These entities face stricter export restrictions on dual-use goods and technologies, as well as items that could technologically enhance Russia's defense and security industry. #DeloitteLU #AML/CTF #EU #14thSanctionsPackage
Russia’s war of aggression against Ukraine: comprehensive EU’s 14th package of sanctions cracks down on circumvention and adopts energy measures
consilium.europa.eu
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European Union countries adopted a 14th package of sanctions on Russia that aims to close some loopholes and hits Russia’s gas exports for the first time, EU foreign ministers said on Monday. Western powers imposed sweeping sanctions on Moscow after Russia launched a full-scale invasion of Ukraine in February 2022, which have been progressively ramped up since. The new restrictions on gas aim to reduce Russia’s revenues from liquefied natural gas (LNG) exports by banning trans-shipments – transferring cargoes from one ship to another – off EU ports and a clause allowing Sweden and Finland to cancel some LNG contracts. The measures stop short of an EU ban on LNG imports, which have risen since the start of the war. The sanctions will take effect after a nine-month transition period. The package also prohibits new investments and services to complete LNG projects under construction in Russia
EU Adopts New Sanctions Against Russia, Including LNG
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📢EU Adopts 14th Sanctions Package Against Russia Over Ukraine War 📢 The EU Council has just rolled out a comprehensive 14th package of sanctions to further pressure Putin’s regime and its supporters in the ongoing, illegal war against Ukraine 🇺🇦. Here’s a breakdown of the key measures: 🔒 Targeting High-Value Sectors: Energy: No more reloading Russian LNG in the EU! This includes ship-to-ship and ship-to-shore transfers. 🚢 Finance: Banning the use of Russia's SPFS messaging system, hitting financial transactions hard 🚫. Trade: Restricting imports and exports that bolster Russia's military capabilities 🔒. 👥 Sanctions on Individuals and Entities: Adding 116 more individuals and entities responsible for undermining Ukraine's sovereignty and independence 👥. ⚡ Anti-Circumvention Measures: EU companies must ensure subsidiaries in third countries don’t bypass sanctions 🌍. New due diligence requirements to prevent re-exportation of battlefield goods to Russia ⚔️🔎. 💸 Banning Financial and Crypto Transactions: No more transactions with Russian defense-linked entities, even via third countries 💳. 🛂 Blocking Interference: No funding from Russia for EU political parties, NGOs, or media outlets 🗞️. 🛳️ Transport Restrictions: Specific Russian vessels banned from EU ports and services, targeting those aiding the war effort and evading sanctions 🚫. 🛩️ Expanded Flight Ban: Russian-owned or controlled non-scheduled flights barred from EU airspace ✈️. 📜 Import-Export Controls: Tighter restrictions on goods and technology that could enhance Russia’s military and industrial capabilities 🚧. 🔍 Protecting EU Operators: Measures to claim compensation for damages caused by Russian companies due to sanctions 🛡️. 🏛️ Other Measures: New rules on intellectual property and cultural property to protect EU rights and heritage 🏛️ https://lnkd.in/dViFMbRv
Russia’s war of aggression against Ukraine: comprehensive EU’s 14th package of sanctions cracks down on circumvention and adopts energy measures
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🔀 Russia Sanctions - Towards the 14th EU Sanction package 🔀 Reuters reports on some difficulties and the latest talks on the next #EU sanction package. Few takeaways, and topics to follow: 💬 #LNG or not LNG? Countries including Belgium, Germany and France have asked for European Commission for assessments on whether a ban on LNG transshipments at European ports will hit the Russian economy more than the EU's 💬 #Circumvention? Diplomats are debating whether EU companies should be held accountable for their distributors in third countries although they are worried the extra red tape will hurt companies after previous measures stipulated contracts must include a ban on re-exports to Russia. 💬 #Belarus? Align pre-invasion sanctions on Belarus with the subsequent Russian ones and close a major loophole that allowed many EU goods to reach Russia through Belarus. 📆 Time is flying and the pressure is high .... #sanctions #sanctionscompliance #trade #customs https://lnkd.in/dD6YX3gX
EU countries want assessments on potential Russian LNG sanctions
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Thank you for sharing this update! It's interesting to see how the EU continues to adapt its strategies in response to the ongoing situation.