Duyurular

SİRKÜLER NO: 6.12 / 374-266 = 08/06/2022

Üyesi bulunduğumuz FONASBA' dan 07.06.2022 tarihinde almış olduğumuz e-posta mesajı aşağıdaki gibidir. 

‘’Dear All,

Courtesy of our colleagues at ECSA, please find below a summary of the latest package of sanctions agreed by the European Council earlier today. As you will note, the primary policy direction is towards further reducing the import of oil and natural gas from Russia to Europe, albeit on a medium-term timescale.

Dear Members,

This is to inform you that the Council adopted this afternoon the 6^th package of sanctions against Russia, after a political agreement was reached on Monday evening.

The text of the 6^th package has just been made available. An analysis of the relevant provisions is provided below.

The main provisions of relevance are introduced through amendments to Regulation 833/2014 (link):

Ban on purchase and import of oil

Under the general provision, it is prohibited  “to purchase, import or transfer, directly or indirectly, crude oil or petroleum products, as listed in Annex XXV, if they originate in Russia or are exported from Russia”. This prohibition covers the provision of technical assistance, brokering services, financing or financial assistance or any other services, directly or indirectly.

Annex XXV lists the two customs code for the specific oil products subject to restrictions. These are:

• CN 2709 00: “Petroleum oils and oils obtained from bituminous minerals, crude”
• CN 2710: “Petroleum oils and oils obtained from bituminous minerals, other than crude; preparations not elsewhere specified or included, containing by weight 70 % or more of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations; waste oils”.

However, a number exemptions and grace periods apply:

• Until 5 December 2022, the prohibition does not apply to “one-off transactions for near-term delivery, concluded and executed before that date, or to the execution of contracts for the purchase, import or transfer of goods falling under CN 2709 00 concluded before 4 June 2022, or of ancillary contracts necessary for the execution of such contracts, provided that those contracts have been notified by the relevant Member States to the Commission by 24 June 2022”. One-off transactions for near-term need to be notified within 10 days of their completion.
• Until 5 February 2023, the prohibition does not apply to “one-off transactions for near-term delivery, concluded and executed before that date, or to the execution of contracts for the purchase, import or transfer of goods falling under CN 2710 concluded before 4 June 2022, or of ancillary contracts necessary for the execution of such contracts, provided that those contracts have been notified by the relevant Member States to the Commission by 24 June 2022”. One-off transactions for near-term need to be notified within 10 days of their completion.
• Exceptions for seaborne oil transport (new article 3m3c): the purchase, import or transfer of seaborne crude oil and of petroleum products listed in Annex XXV is allowed when those goods originate in a third country and are only being loaded in, departing from or transiting through Russia, provided that both the origin and the owner of those goods are non-Russian.
• Exceptions for Bulgaria on seaborne transport of oil: from of 5 December 2022, the competent authorities of Bulgaria may “authorise the execution until 31 December 2024 of contracts concluded before 4 June 2022, or of ancillary contracts necessary for the execution of such contracts, for the purchase, import or transfer of seaborne crude oil and of petroleum products listed in Annex XXV originating in Russia or exported from Russia”. (article 3m5)

Ban on transfer/transport/export of oil arriving by pipeline into the EU

As announced on 30 May, import of crude oil by pipeline is exempted until further notice (article 3m3d). However, it is prohibited to “transfer or transport of crude oil delivered by pipeline into Member States as referred to in paragraph 3(d) to other Member States or to third countries” or to sell “to purchasers in other Member States or in third countries”. As of 5 February 2023, this prohibition will also applied to refined products obtained from the crude imported by pipeline (article 3m8).

Ban on technical assistance, brokering services or financing or financial assistance related to transport

Under new Article 3n, it is prohibited to “provide, directly or indirectly, technical assistance, brokering services or financing or financial assistance, related to the transport, including through ship-to-ship transfers, to third countries of crude oil or petroleum products as listed in Annex XXV which originate in Russia or which have been exported from Russia”.

Grace period and exceptions apply as follows:

• Contracts concluded before 4 June 2022, as well as related necessary ancillary contracts, can be executed until 5 December 2022;
• The above activities are allowed when related to transport of good that originate in a third country and are only being loaded in, departing from or transiting through Russia, provided that both the origin and the owner of those goods are non-Russian.

When understand the above to also include insurance and reinsurance service. The regulation (recital 15) specifically refers to today’s amendment to Council Decision (CFSP) 2014/512 (here) which states in recital 7 that “It is appropriate to prohibit the import, purchase or transfer into Member States of crude oil and certain petroleum products from Russia. Moreover, it is appropriate to prohibit the insurance and reinsurance of maritime transport of such goods to third countries”.

Additional financial sanctions

The list of financial institutions subject to a decoupling from SWIFT was further extended (see new article 5h and amending Annex XIV). As expected, Sberbank was added to the list, together with the Credit Bank of Moscow and the Joint Stock Company Russian Agricultural Bank, JSC Rosselkhozbank.

Additional provisions

• Clarifications are provided in amended article 5m on the prohibition to register, provide a registered office, business or administrative address as well as management services to certain categories of Russian entities and Russian nationals.
• New article 5n established a ban from providing, directly or indirectly, accounting, auditing, including statutory audit, bookkeeping or tax consulting services, or business and management consulting or public relations services to the Government of Russia or legal persons, entities or bodies established in Russia.
• The list of goods subject to export ban has been extended (see amended ANNEX II amending original Annex VII to the Regulation) notably to include more chemical products. The list of goods subject to import bans under article 3i has also been amended (see ANNEX VII amending Annex XXI).

List of sanctioned individuals and entities

Additional individuals and entities were added to the list subject to restrictions (here and here).

The amended Regulation and Decision will enter into force tomorrow. For your ease of reference you can find the consolidated version of Regulation 833/2014 here, including all amendments up to 13 April. The consolidate version of Decision 2014/512/CFSP up to 9 April can be found here.

For information, additional sanctions covering individuals and entities, and specifically introducing further financial restrictions, were also imposed on Belarus (here and here).’’

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