ANNOUNCED AS TEMPORARYNo
On 21 July 2022, the European Union adopted Council Regulation (EU) 2022/1269 prohibiting the import or purchase, directly or indirectly, of Russian gold. The affected tariff subheadings are those falling under chapters 7208, 7113, and 7114, in addition to subheadings 7112.91 and 7118.90. The measure enters into force the day following its publication on the official gazette.
In particular, the import ban was introduced via a modification of Regulation (EU) No 833/2014 which set sanctions in the context of the Crimea conflict. The affected products were added as two new annexes to this regulation, namely Annex XXVI and Annex XXVII. The measure comes after other G7 Members imposed similar restrictions (see related state acts).
The regulation also includes an extension of the import ban list (see related interventions).
In this context, the EU's High Representative for Foreign Affairs and Security Policy, Josep Borrell, noted: "Today’s “maintenance and alignment” package introduces a new prohibition to purchase, import, or transfer, directly or indirectly, gold, if it originates in Russia and it has been exported from Russia into the EU or to any third country after. This prohibition also covers jewellery".
EU's sanctions on Russia
On 21 July 2022, the EU passed a series of measures targeting the Russian Federation for the recognition of non-government-controlled areas of the Donetsk and Luhansk oblasts of Ukraine as independent entities, and the subsequent decision to send Russian troops into these areas. The package also includes further trade and financial restrictions against Russian and other sanctions targeting Syria (see related state acts).
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