The European Council has updated & introduced further restrictive measures
EUROPEAN COUNCIL DECISION (CFSP) 2022/430
In regards to the latest announcement of the EUROPEAN COUNCIL DECISION (CFSP) 2022/430 published in the official journal of the European Union on the 15th of March 2022.
In view of the situation, in Ukraine, The European Council has updated & introduced further restrictive measures.
A summary of restrictions are listed below:
To prohibit all transactions with certain state-owned companies.
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.
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.
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.
To introduce further trade restrictions concerning iron and steel, as well as luxury goods
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Written by Constantinos Constantinides Director | Financial Associates International (FAI)