ANNOUNCED AS TEMPORARYNo
Controls on commercial transactions and investment instruments
On 21 July 2022, the EU adopted Council Implementing Regulation (EU) 2022/1274 adding one Syrian company to the list of entities whose funds and economic resources will be frozen within the EU given its involvement in the Russian invasion of Ukraine. The new company is Al-Sayyad Company for Guarding and Protection Services Ltd and it operates in private security services.
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.
In this context, the EU's High Representative for Foreign Affairs and Security Policy, Josep Borrell, noted: "In view of the fact that the Syrian regime provides support -including military support - to Russia's unprovoked and unjustified military aggression against Ukraine, the Council decided to also list six individuals and one entity involved in the recruitment of Syrian mercenaries to fight in Ukraine alongside Russian troops".
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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