ANNOUNCED AS TEMPORARYNo
Controls on commercial transactions and investment instruments
On 3 June 2022, the EU adopted Council Implementing Regulation (EU) 2022/878 adding 18 Russian companies to the list of entities whose funds and economic resources will be frozen within the EU. The new companies subject to an asset freeze and a prohibition from making funds available to them are: 1. JSC GARNIZON; 2. JSC OBORONENERGO; 3. OJSC Ulyanovsk; 4. JSC VOENTELECOM (VOYENTELEKOM); 5. JSC VOENTORG; 6. VOENTEKSTILPROM LLC; 7. INDEPENDENT INSURANCE GROUP; 8. PJSC KAMAZ alias KAMAZ PTC; 9. JSC KRONSHTADT TEKHNOLOGII Group of Companies; 10. Management Company Tatneft-Neftekhim LLC; 11. Nizhnekamsk All-Steel Tyre Plant, LLC; 12. PJSC Nizhnekamskshina; 13. LLC TD KAMA; 14. OJSC Balashikha Casting and Mechanical Plant; 15. JSC REMDIZEL; 16. JSC SUKHOI Company; 17. JSC "121 AIRCRAFT REPAIR PLANT"; and 18. National Settlement Depository (NSD).
These companies operate in the following sectors: manufacturing of vehicles (off-road, heavy trucks), tanks, tires, metal castings (titanium, magnesium, aluminium), aircraft and aircraft parts, military clothing, as well as logistics and management services, electricity distribution, telecommunication (telephony), clothing services (laundry, dry-cleaning), financial insurance and other related depository services, engineering services, and maintenance services for the aviation sector.
In particular, these entities were added to Annex I to Regulation (EU) No 269/2014 which set sanctions in the context of the Crimea conflict. The measure entered into force on the same day of its publication.
EU's sanctions on Russia and Belarus
On 3 June 2022, the EU adopted its sixth package of measures targetting the Russian Federation for its invasion of Ukraine, as well as Belarus for its involvement. The package includes 4 other regulations establishing targeted restrictive measures on Russian and Belarusian politicians and high-profile individuals, trade restrictions, as well as other capital control and financial restrictions (see related state acts).
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