Export restrictions on Russia expanded

The Export Control Unit of the Ministry for Foreign Affairs draws companies’ attention to the latest export and import restrictions published on 15 March 2022. The European Union expanded its export restrictions on Russia in many ways. In addition, it imposed new import restrictions and many other restrictions on trade. The new restrictions entered into force on 16 March 2022.

The Export Control Unit urges companies to check all the new restrictions. Significant points in the new restrictions on imports and exports include:

  • New restrictions are imposed on products intended for the energy sector that are subject to sanctions supervision. ‘Energy sector’ is given a new definition that covers exploration, production and distribution of fossil fuels, manufacture of fuel products and power generation. However, it does not include civil nuclear related activities or distribution of gas from Russia to the EU.
  • Nearly all exports of products associated with exploration and production of crude oil that previously were subject to export authorisation under earlier sanctions are now prohibited.
  • Exports of certain luxury goods are now almost completely prohibited. The list of luxury goods is extensive, ranging from different kinds of vehicles to household appliances.   
  • Restrictions on imports are expanded to cover a wide range of iron and steel products originating in Russia.
  • All transactions with certain bodies that are controlled by the Russian Government are prohibited.
  • The list of bodies that are subject to import restrictions for certain products other than products needed in response to natural disasters or similar events is expanded.
  • The provision of any credit rating services to Russian clients is prohibited.

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