On 9 March, a news release from the EU advised that Member States had agreed 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 a further 160 individuals; plus SWIFT restrictions in respect of Belarus alongside other financial sanctions measures; new restrictions on the export of maritime navigation and radio communication technology, adding 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.

EU Regulation 2022/396/EU adds 146 members of the Russian Federation Council and 14 persons supporting and benefitting from the Government of the Russian Federation or providing a substantial source of revenue to it, or associated with listed persons or entities.

EU Regulation 2022/394/EU expands, to the maritime sector, the list of legal persons, entities and bodies subject to financing limitations via loans, transferable securities and money market instruments; and extends to nationals of the member countries of the EEA and to nationals of Switzerland the exemption related to deposits.

EU Regulation 2022/398/EU expands the sanctions further in respect of Belarus

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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