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EU adopts 9th package of sanctions in response to Russia’s aggression against Ukraine

by Alicja Szyrner

4 January 2023

The Council of the European Union adopted a new, ninth package of economic sanctions on Russia on 16 December 2022.

The existing restrictive measures have been extended to cover, among other things:

a ban on the export of aircraft engines and their parts to Russia; this includes unmanned aircrafts, i.e. also drones,
a ban on the provision of advertising, market research and public opinion polling services, as well as product testing and technical inspection services to Russian entities,
further restrictions on the export of dual-use goods and technology,
a ban on new investments in the Russian mining sector.

In addition, a further 141 individuals and 49 entities were sanctioned, the assets of two more Russian banks were frozen and the Russian Regional Development Bank was added to the list of entities that are subject to a complete ban on transactions.

In view of the new and the existing obligations connected with the imposed sanctions as well as the financial and criminal liability for non-compliance with them, we recommend that you each time verify your contracting parties and the subject of your transactions. To this end, it may be helpful to introduce relevant internal verification procedures based on the compliance system.

Would you like to identify risks and implement appropriate security procedures? Contact our experienced experts.

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Alicja Szyrner

Attorney at law (Poland)

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