Ukraine: EU agrees to extend the scope of sanctions on Russia and Belarus

The European Commission welcomes on March 9, 2022, the agreement of Member States to adopt further targeted sanctions in view of the situation in Ukraine and in response to Belarus’s involvement in the aggression.

In particular, the new measures impose restrictive measures on 160 individuals and amend Regulation (EC) 765/2006 concerning restrictive measures in view of the situation in Belarus and Regulation (EU) 833/2014 concerning Russia’s actions destabilising the situation in Ukraine. These amendments create a closer alignment of EU sanctions regarding Russia and Belarus and will help to ensure even more effectively that Russian sanctions cannot be circumvented, including through Belarus.

For Belarus, the measures introduce SWIFT prohibitions similar to those in the Russia regime, clarify that crypto assets fall under the scope of ‘transferable securities’ and further expand the existing financial restrictions by mirroring the measures already in place regarding Russia sanctions.

For Russia, the amendment introduces new restrictions on the export of maritime navigation and radio communication technology, adds Russian Maritime Register of Shipping to the list of state-owned enterprises subject to financing limitations and introduces a prior information sharing provision for exports of maritime safety equipment.

An additional 160 individuals have also been listed in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.

The press release with more information is available here.