Changes to the prohibition on providing services to Russian related entities

 

Based on Council Regulation (EU) No 833/2014 of 31 July 2014, it is prohibited to provide both directly and indirectly the following services to the Russian government or entities established in Russia:

 

Until 20 June 2024, the above prohibition does not apply to the services provided for the exclusive use by entities established in Russia that are owned by a legal entity established under: the laws of a Member State, an EEA country, Switzerland or a partner country, or that are independently or jointly controlled by such a legal entity, i.e. to related entities. After that date, all of the above-listed services will require a permit from the Minister of Development and Technology before they may be provided to related entities established in Russia. 

 

Thus, it is necessary to check until 20 June 2024 whether certain services are provided to Russian related parties within your group and, if so, they must be discontinued or permitted by the Minister of Development and Technology by that date.

 

If you have any questions about the economic sanctions imposed by the EU – contact​ us.​