EU adopts 12th package of sanctions against Russia

The European Commission welcomes the Council's adoption of a 12th package of sanctions against Russia.

The focus of this package is to impose additional import and export bans on Russia, combat sanctions circumvention and close loopholes, according to the message posted on the website of the European Commission.

In particular, this package includes additional listings of Russian individuals and companies and new import and export bans – such as banning the export of Russian diamonds to Europe – in very close cooperation with our G7 partners.

Moreover, the package tightens the implementation of the oil price cap by monitoring more closely how tankers may be used to circumvent the cap. It also includes stricter asset tracing obligations and tough measures on third-country companies circumventing sanctions.  

The 12th package has these key elements:

TRADE MEASURES

Import ban on Russian diamonds: import restrictions on non-industrial diamonds, mined, processed, or produced, in Russia. These proposed sanctions are part of an internationally coordinated G7 diamond ban, aiming to deprive Russia of this important revenue stream estimated at four billion euros per year. All G7 members will implement a direct ban on diamonds exported from Russia at the latest by January 1, 2024. As of March 1, 2024, a ban on Russian diamonds polished in a third country will take effect and, as of September 1, 2024, the ban will be expanded to include lab-grown diamonds, jewellery, and watches containing diamonds. To further the effectiveness of these measures, a robust traceability-based verification and certification mechanism for rough diamonds will be established within the G7.

Import ban on raw materials for steel production, processed aluminium products and other metal goods: new measures restricting imports from Russia of certain metal goods.

Export restrictions: additional export restrictions on dual-use and advanced technological and industrial goods worth 2.3 billion euros per year. In particular: 

New export controls on dual use/advanced tech, aiming to further weaken Russia's military capabilities, including chemicals, thermostats, DC motors and servomotors for unmanned aerial vehicles (UAV), machine tools and machinery parts.

New export bans on EU industrial goods, to further hamper Russia's capacities in its industrial sector, including machinery and parts, construction-related goods, processed steel, copper and aluminium goods, lasers, and batteries.

Addition of 29 Russian and third country entities to the list of entities associated to Russia's military-industrial complex (including entities registered in Uzbekistan and Singapore).

Prohibition to provide enterprise and design-related software to the Russian government or Russian companies. The aim is to further hamper Russia's capacities in its industrial sector. Restrictions in the area of services are an area where we have worked closely with our international partners, including the US and the UK.