Ukraine Regime
Council Implementing Regulation (EU) 2022/427 of 15 March 2022 implementing Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine
On 24 February 2022, the President of the Russian Federation announced a military operation in Ukraine and Russian armed forces began an attack on Ukraine. That attack is a blatant violation of the territorial integrity, sovereignty and independence of Ukraine. In its conclusions of 24 February 2022, the European Council condemned in the strongest possible terms the Russian Federation’s unprovoked and unjustified military aggression against Ukraine. By its illegal military actions, Russia is grossly violating international law and the principles of the United Nations Charter, and undermining European and global security and stability. The European Council agreed on further restrictive measures that will impose massive and severe consequences on Russia for its actions, in close coordination with the Union’s partners and allies. On 25 February 2022, the Council adopted Regulation (EU) 2022/330 (2), which amended the criteria of designation to include persons and entities supporting and benefitting from the Government of the Russian Federation, persons and entities providing a substantial source of revenue to the Government of the Russian Federation, and natural or legal persons associated with listed persons or entities. In view of the gravity of the situation, the Council considers that 15 individuals and 9 entities should be added to the list of persons, entities and bodies subject to restrictive measures as set out in Annex I to Regulation (EU) No 269/2014. Annex I to Regulation (EU) No 269/2014 should therefore be amended accordingly to include 24 new persons and entities to the list of natural and legal persons, entities and bodies set out in Annex I to Regulation (EU) No 269/2014.
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Council Decision (CFSP) 2022/429 of 15 March 2022 amending Decision 2014/145/CFSP concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine
On 24 February 2022, the President of the Russian Federation announced a military operation in Ukraine and Russian armed forces began an attack on Ukraine. That attack is a blatant violation of the territorial integrity, sovereignty and independence of Ukraine. In its conclusions of 24 February 2022, the European Council condemned in the strongest possible terms the Russian Federation’s unprovoked and unjustified military aggression against Ukraine. By its illegal military actions, Russia is grossly violating international law and the principles of the United Nations Charter, and undermining European and global security and stability. The European Council agreed on further restrictive measures that will impose massive and severe consequences on Russia for its actions, in close coordination with the Union’s partners and allies. On 25 February 2022, the Council adopted Decision (CFSP) 2022/329 (2), which amended the criteria of designation to include persons and entities supporting and benefitting from the Government of the Russian Federation, persons and entities providing a substantial source of revenue to the Government of the Russian Federation, and natural or legal persons associated with listed persons or entities. In view of the gravity of the situation, the Council considers that 15 individuals and 9 entities should be added to the list of persons, entities and bodies subject to restrictive measures set out in the Annex to Decision 2014/145/CFSP. Decision 2014/145/CFSP should therefore be amended accordingly.
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Council Regulation (EU) 2022/428 of 15 March 2022 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine
On 15 March 2022, the Council adopted Decision (CFSP) 2022/430, amending Decision 2014/512/CFSP and introducing further trade restrictions concerning iron and steel, as well as luxury goods. Decision (CFSP) 2022/430 expands the list of persons connected to Russia’s defence and industrial base, on whom tighter export restrictions regarding dual-use goods and technology as well as goods and technology which might contribute to the technological enhancement of Russia’s defence and security sector are imposed. Decision (CFSP) 2022/430 also imposes prohibitions targeting new investments in the Russian energy sector, as well as a comprehensive export restriction on equipment, technology and services for the energy industry in Russia, with the exception of the nuclear industry and the downstream sector of energy transport. Decision (CFSP) 2022/430 prohibits all transactions with certain state-owned companies which are already subject to refinancing restrictions. Decision (CFSP) 2022/430 also prohibits the provision of credit rating services and bans access to any subscription services in relation to credit rating activities to Russian clients. These measures fall within the scope of the Treaty and, therefore, in particular with a view to ensuring their uniform application in all Member States, regulatory action at the level of the Union is necessary. Regulation (EU) No 833/2014 should therefore be amended accordingly.
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Council Decision (CFSP) 2022/430 of 15 March 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine
On 24 February 2022, the President of the Russian Federation announced a military operation in Ukraine and Russian armed forces began an attack on Ukraine. That attack is a blatant violation of the territorial integrity, sovereignty and independence of Ukraine. In its conclusions of 24 February 2022, the European Council condemned in the strongest possible terms the Russian Federation’s unprovoked and unjustified military aggression against Ukraine. By its illegal military actions, Russia is grossly violating international law and the principles of the UN Charter and undermining European and global security and stability. The European Council called for the urgent preparation and adoption of a further individual and economic sanctions package. In view of the gravity of the situation, and in response to Russia’s military aggression against Ukraine, it is appropriate to introduce further restrictive measures. In particular, it is appropriate to prohibit all transactions with certain state-owned companies. It is also appropriate to prohibit the provision of any credit rating services, as well as access to any subscription services in relation to credit rating activities, to any Russian person or entity. Moreover, it is appropriate to tighten the export restrictions regarding dual-use goods and technology as well as goods and technology which might contribute to the technological enhancement of Russia’s defence and security sector, and to expand the list of persons connected to Russia’s defence and industrial base, which are subject to those restrictions. Furthermore, it is appropriate to prohibit new investments in the Russian energy sector, and to introduce a comprehensive export restriction on equipment, technology and services for the energy industry in Russia, with the exception of nuclear industry and the downstream sector of energy transport. Finally, it is appropriate to introduce further trade restrictions concerning iron and steel, as well as luxury goods. Further action by the Union is needed in order to implement certain measures. Decision 2014/512/CFSP should therefore be amended accordingly.
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Please be reminded that all EU/UN sanctions are directly applicable under Maltese law under the National Interest (Enabling Powers) Act, cap 365 of the Laws of Malta as linked here.
Should any of your clients be a person or entity who is listed under UN/EU or national sanctions or who is directly or indirectly owned or controlled by a listed person or entity, the freezing measures mentioned under article 17 of the Act apply.
The Sanctions Monitoring Board is to be informed immediately of the actions that have been taken in relation to the assets of such listed persons.
The Sanctions Monitoring Board may be contacted on sanctions.mfea@gov.mt on any issue relating to sanctions.
Please find below links to the:
EU Financial Sanctions Database
Consolidated UN Sanctions List
EU Sanctions Map
Sanctions Monitoring Board
