Jakarta (ANTARA) – The Council of the European Union announced on Monday (24/6) the 14th sanctions package containing restrictive economic measures against Russia.
According to an official statement from the Council of the European Union, the move is designed to hit high-value sectors of the Russian economy, such as energy, finance and trade, and make it even more difficult to evade EU sanctions .
European Union High Representative for Foreign Affairs and Security Policy Josep Borrell said the 14th sanctions package demonstrates the EU’s unity in supporting Ukraine.
Furthermore, the sanctions package also aims to limit Russian criminal activity against Ukraine, including efforts to evade European Union action, Borrell said.
“Our sanctions have significantly weakened the Russian economy and prevented Putin from carrying out his plans to destroy Ukraine, even as he continues his unlawful aggression against civilians and civilian infrastructure,” Borrell said.
One of the contents of the 14th package of sanctions is to protect business operators from European Union countries.
The package allows EU operators to claim compensation for losses caused to Russian companies due to the implementation of sanctions and takeovers.
It also creates a tool to compile a list of companies that are prohibited from trading due to interference with arbitration and the jurisdiction of courts.
In the energy sector, the European Union will ban Russian LNG recharging services on EU territory for operational purposes transhipment to a third country.
It covers ship-to-ship transfers and ship-to-shore transfers, as well as reloading operations, and does not cover imports but only re-exports to third countries via the European Union.
Furthermore, the European Union is equipping itself with further tools to repress acts of tax avoidance.
EU parent companies will be required to do their best to ensure that their subsidiaries in third countries do not take part in any activities that result in the impacts that the sanctions are intended to prevent.
It was also decided that EU operators selling such war goods to third countries must implement a due diligence mechanism capable of identifying and assessing the risks of re-export to Russia and mitigating them.
EU operators transferring industrial know-how for the production of war goods to third-country trading partners must include contractual provisions to ensure that this know-how is not used for goods destined for Russia.
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Reporter: Cindy Frishanti Ottavia
Publisher: Azis Kurmala
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