The agreed package includes measures to:
strengthen bilateral and multilateral cooperation with third countries to impede sanctions’ circumvention;
prohibit the transit of goods and technology via Russia;
tighten export restrictions.
Trade
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11th package of sanctions against Russia
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New Russian generals and entities sanctioned, expands export and service bans
Sanctions for additional 17 Generals and 78 entities related to the Russian Federation and 7 Generals related to annexation, subjecting them to restrictions on payments and capital transactions. Effective 2 June 2023, the Japanese government also introduced an export ban to 80 designated entities of the Russian Federation.
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Aluminium & steel import ban
Prohibit the import of aluminum and steel products originating from Russia.
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10th package of sanctions against Russia
The agreed package includes bans on:
exports of critical technology and industrial goods;
imports of asphalt and synthetic rubber;
provision of gas storage capacity to Russian entities;
transit through Russia of EU exported dual use goods and technology. -
Import and service bans on Russian oil products above ceiling price
An import ban applies to oil products of Russian origin bought at a price exceeding the ceiling price unless permission is obtained from the Ministry of Economy, Trade and Industry. A license must be obtained for the provision of loan agreements, debt guarantee contracts, debts offsets, brokerage transactions, and other designated services related to the purchase of oil products of Russian origin bought at a price exceeding the ceiling price.
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Oil price cap enforcement
OFAC announces that, from 5 February 2023, US persons will be barred from providing maritime-transport and related services for Russian-origin petroleum products unless the cargo is sold at or below a forthcoming price cap.
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Secondary sanctions for significant transactions with Russian gold
The NDAA orders blocking and visa sanctions on any non-US person who knowingly conducts a significant transaction involving the sale, supply, transfer or transport of Russian gold.
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Oil cap enforcement, prohibition of services
Prohibit the provision of services, in relation to the maritime transport of Russian crude oil, unless the oil is purchased at or below the price outlined in the G7+ Coalition Oil Price Cap List. Listed 33 Generals and 6 entities.
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New general and Russian entities sanctions
Sanctions of 58 Russian Generals, 9 Russian entities and 23 Generals who are considered to have been directly responsible for the unilateral annexation of Donetsk, Luhansk, Kherson and Zaporizhzhia
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Export ban for 20 entities, export ban for materials used for chemical weapon production
A ban on exporting products of Japanese origin to 20 designated entities and one General of the Russian Federation.
A ban on exporting to Russia products of Japanese origin that can be used for the production of chemical weapons etc.