The Council of the European Union has introduced amendments to
its sanctions contained in Regulation 833/2014, which target
"Russia's actions destabilising the situation in
Ukraine".
The amendments, contained in Regulation 1290/2014, have been
made in order to clarify points which were previously
insufficiently clear and had caused confusion, in particular in the
oil and gas and financial sectors, as to the activities that are no
longer permitted following the introduction of the sanctions in
August 2014.
The changes relating to the oil sector are made
by the amendment of Articles 3 and 3a of Regulation 833/2014, and
have clarified that:
- The restrictions on sale, supply, transfer or export of items
listed in Annex II to Regulation 833/2014 apply to Russia,
including its Exclusive Economic Zone and Continental Shelf. There
had previously been doubt as to the maritime area covered by the
regulation.
