The EU has put further new sanctions against Russia into force with the 8th sanctions package, which will apply from 07.10.2022. A price cap applies to imports of crude oil and petroleum products. Certain firearms have been banned from sale and export. EU nationals are banned from holding management positions in certain Russian companies. Furthermore, services in the fields of architecture and engineering, legal advice and IT consulting are prohibited. Finally, changed regulations apply to the import of iron and steel products as well as coal and other solid fossil fuels.
For companies active in business with Russia, the fact that the various lists for goods and technologies (annexes to Regulation (EU) No. 833/2014) have been fundamentally amended and supplemented is particularly drastic. This makes it necessary for those affected to re-evaluate the material classifications made so far.
EU Official Journal:
Regulation (EU) 2022/1904 contains the amendments to Regulation (EU) No. 833/2014 that are relevant for the companies concerned.
Regulation (EU) 2022/1905 and Implementing Regulation (EU) 2022/1906 supplement Regulation (EU) No 269/2014, which lists the persons, entities and bodies of Russia whose assets are frozen and to whom economic resources may not be made available.
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