DirittoUE.info EULaw.info by Antonino Alì

https://ec.europa.eu/commission/presscorner/detail/en/IP_22_1828

The European Commission’s ‘Freeze and Seize’ Task Force, set up to ensure EU-level coordination to implement sanctions against listed Russian and Belarussian oligarchs, has now stepped up its action at international level. It will work alongside the newly established ‘Russian Elites, Proxies, and Oligarchs (REPO)’ Task Force, under which the EU operates together with the G7 countries Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, as well as Australia.

The ‘Freeze and Seize’ Task Force was set up by the European Commission to ensure the efficient implementation of the EU sanctions against listed Russian and Belarussian oligarch across the EU.

The ‘Freeze and Seize’ Task Force is composed of the Commission, national contact points from each Member State, Eurojust and Europol as well as other EU agencies and bodies as necessary. It will coordinate actions by EU Member States, Eurojust, Europol and other agencies to seize and, where national law allows provides for it, confiscate assets of Russian and Belarussian oligarchs. While the Commission provides strategic coordination, Eurojust and Europol are best placed to ensure operational coordination. The first meeting of the ‘Freeze and Seize’ Task Force took place on 11 March and was chaired by Commissioner Reynders.

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https://ec.europa.eu/commission/presscorner/detail/en/qanda_22_1776

Question_and_Answers__fourth_package_of_restrictive_measures_against_Russia

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https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1761

The agreed measures are the following:

– A full prohibition of any transactions with certain Russian State-owned enterprises across different sectors – the Kremlin’s military-industrial complex.
– An EU import ban on those steel products currently under EU safeguard measures, amounting to approximately € 3.3 billion in lost export revenue for Russia. Increased import quotas will be distributed to other third countries to compensate.
A far-reaching ban on new investment across the Russian energy sector, with limited exceptions for civil nuclear energy and the transport of certain energy products back to the EU.
An EU export ban on luxury goods (e.g. luxury cars, jewellery, etc.) to directly hit Russian elites.
Moreover, the list of sanctioned persons and entities has been further extended to include more oligarchs and business elites linked to the Kremlin, as well as companies active in military and defence areas, which are logistically and materially supporting the invasion. There are also new listings of actors active in disinformation.
A ban on the rating of Russia and Russian companies by EU credit rating agencies and the provision of rating services to Russian clients, which would result in them losing even further access to the EU’s financial markets.

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G7 Leaders’ Statement

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https://ec.europa.eu/commission/presscorner/detail/en/statement_22_1724

“First, we will deny Russia the status of most-favoured-nation in our markets. This will revoke important benefits that Russia enjoys as a WTO member. Russian companies will no longer receive privileged treatment in our economies. We will also work to suspend Russia’s membership rights in leading multilateral financial institutions, including the International Monetary Fund and the World Bank. We will ensure that Russia cannot obtain financing, loans, or any other benefits from these institutions. Because Russia cannot grossly violate international law and, at the same time, expect to benefit from the privileges of being part of the international economic order.

Second, we will continue pressuring Russian elites close to Putin as well as their families and enablers. This is why G7 Finance-, Justice- and Home Affairs Ministers will meet next week to coordinate the task force we set up targeting Putin’s cronies.

Third, we are making sure that the Russian state and its elites cannot use crypto assets to circumvent the sanctions. We will stop the group close to Putin and the architects of his war from using these assets to grow and transfer their wealth.

Fourth, we will ban the export of any EU luxury goods from our countries to Russia, as a direct blow to the Russian elite. Those who sustain Putin’s war machine should no longer be able to enjoy their lavish lifestyle while bombs fall on innocent people in Ukraine.

Fifth, very importantly, we will prohibit the import of key goods in the iron and steel sector from the Russian Federation. This will hit a central sector of Russia’s system, deprive it of billions of export revenues and ensure that our citizens are not subsidising Putin’s war.

Finally, we will propose a big ban on new European investments across Russia’s energy sector. Because we should not be feeding the energy dependency which we want to leave behind us. This ban will cover all investments, technology transfers, financial services, etcetera, for energy exploration and production – and thus have a big impact on Putin.”

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https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1649

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The European Commission welcomes today’s agreement of Member States to adopt further targeted sanctions in view of the situation in Ukraine and in response to Belarus’s involvement in the aggression. In particular, the new measures impose restrictive measures on 160 individuals and amend Regulation (EC) 765/2006 concerning restrictive measures in view of the situation in Belarus and Regulation (EU) 833/2014 concerning Russia’s actions destabilising the situation in Ukraine. These amendments create a closer alignment of EU sanctions regarding Russia and Belarus and will help to ensure even more effectively that Russian sanctions cannot be circumvented, including through Belarus.

For Belarus, the measures introduce SWIFT prohibitions similar to those in the Russia regime, clarify that crypto assets fall under the scope of “transferable securities” and further expand the existing financial restrictions by mirroring the measures already in place regarding Russia sanctions.

In particular, the agreed measures will:

Restrict the provision of SWIFT services to Belagroprombank, Bank Dabrabyt, and the Development Bank of the Republic of Belarus, as well as their Belarusian subsidiaries.
Prohibit transactions with the Central Bank of Belarus related to the management of reserves or assets, and the provision of public financing for trade with and investment in Belarus.
Prohibit the listing and provision of services in relation to shares of Belarus state-owned entities on EU trading venues as of 12 April 2022.
Significantly limit the financial inflows from Belarus to the EU, by prohibiting the acceptance of deposits exceeding €100.000 from Belarusian nationals or residents, the holding of accounts of Belarusian clients by the EU central securities depositories, as well as the selling of euro-denominated securities to Belarusian clients.
Prohibit the provision of euro denominated banknotes to Belarus.

https://ec.europa.eu/commission/presscorner/detail/en/ip_22_1649

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The Council today introduced further restrictive measures in view of the Russian Federation’s unprovoked and unjustified military aggression against Ukraine.

The Council decided in particular to prohibit:

the provision of specialised financial messaging services, which are used to exchange financial data (SWIFT), to Bank Otkritie, Novikombank, Promsvyazbank, Rossiya Bank, Sovcombank, VNESHECONOMBANK (VEB), and VTB BANK’. This prohibition will enter into force on the tenth day after the publication in the Official Journal of the EU, and will also apply to any legal person, entity or body established in Russia whose proprietary rights are directly or indirectly owned for more than 50% by the above-mentioned banks.
to invest, participate or otherwise contribute to future projects co-financed by the Russian Direct Investment Fund.
sell, supply, transfer or export euro denominated banknotes to Russia or to any natural or legal person, entity or body in Russia, including the government and the Central Bank of Russia, or for use in Russia.
Today’s decisions complements the package of measures announced by the High Representative after the video conference of EU Foreign Affairs Ministers of 27 February. Such package also includes the provision of equipment and supplies to the Ukrainian Armed Forces through the European Peace Facility, a ban on the overflight of EU airspace and on access to EU airports by Russian carriers of all kinds, a ban on the transactions with the Russian Central Bank, and the prohibition for state-owned media Russia Today and Sputnik’ to broadcast in the EU.

https://www.consilium.europa.eu/en/press/press-releases/2022/03/02/russia-s-military-aggression-against-ukraine-eu-bans-certain-russian-banks-from-swift-system-and-introduces-further-restrictions/

Council Regulation (EU) 2022/345 of 1 March 2022 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine
Council Decision (CFSP) 2022/346 of 1 March 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine

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https://ec.europa.eu/commission/presscorner/detail/en/statement_22_1423

We, the leaders of the European Commission, France, Germany, Italy, the United Kingdom, Canada, and the United States condemn Putin’s war of choice and attacks on the sovereign nation and people of Ukraine. We stand with the Ukrainian government and the Ukrainian people in their heroic efforts to resist Russia’s invasion. Russia’s war represents an assault on fundamental international rules and norms that have prevailed since the Second World War, which we are committed to defending. We will hold Russia to account and collectively ensure that this war is a strategic failure for Putin.

This past week, alongside our diplomatic efforts and collective work to defend our own borders and to assist the Ukrainian government and people in their fight, we, as well as our other allies and partners around the world, imposed severe measures on key Russian institutions and banks, and on the architects of this war, including Russian President Vladimir Putin.

As Russian forces unleash their assault on Kyiv and other Ukrainian cities, we are resolved to continue imposing costs on Russia that will further isolate Russia from the international financial system and our economies. We will implement these measures within the coming days.

Specifically, we commit to undertake the following measures:

First, we commit to ensuring that selected Russian banks are removed from the SWIFT messaging system. This will ensure that these banks are disconnected from the international financial system and harm their ability to operate globally.

Second, we commit to imposing restrictive measures that will prevent the Russian Central Bank from deploying its international reserves in ways that undermine the impact of our sanctions.

Third, we commit to acting against the people and entities who facilitate the war in Ukraine and the harmful activities of the Russian government. Specifically, we commit to taking measures to limit the sale of citizenship—so called golden passports—that let wealthy Russians connected to the Russian government become citizens of our countries and gain access to our financial systems.

Fourth, we commit to launching this coming week a transatlantic task force that will ensure the effective implementation of our financial sanctions by identifying and freezing the assets of sanctioned individuals and companies that exist within our jurisdictions. As a part of this effort we are committed to employing sanctions and other financial and enforcement measures on additional Russian officials and elites close to the Russian government, as well as their families, and their enablers to identify and freeze the assets they hold in our jurisdictions. We will also engage other governments and work to detect and disrupt the movement of ill-gotten gains, and to deny these individuals the ability to hide their assets in jurisdictions across the world.

Finally, we will step up or coordination against disinformation and other forms of hybrid warfare.

We stand with the Ukrainian people in this dark hour. Even beyond the measures we are announcing today, we are prepared to take further measures to hold Russia to account for its attack on Ukraine.

Joint_Statement_on_further_restrictive_economic_measures

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Early this morning, Russian troops invaded Ukraine, a free and sovereign country. Once again, in the centre of Europe, innocent women, men and children are dying or fear for their lives. We condemn this barbaric attack, and the cynical arguments to justify it.

It is President Putin, who is bringing war back to Europe. In these dark hours, the European Union and its people stand by Ukraine and its people. We are facing an unprecedented act of aggression by the Russian leadership against a sovereign, independent country. Russia’s target is not only Donbas, the target is not only Ukraine, the target is the stability in Europe and the whole of the international peace order. And we will hold President Putin accountable for that.

Later today, we will present a package of massive and targeted sanctions, to European Leaders for approval. With this package, we will target strategic sectors of the Russian economy by blocking their access to technologies and markets that are key for Russia. We will weaken Russia’s economic base and its capacity to modernise. And in addition, we will freeze Russian assets in the European Union and stop the access of Russian banks to European financial markets. Like with the first package of sanctions, we are closely aligned with our partners and allies – the United States, the United Kingdom, Canada, but also, for example, Japan and Australia. These sanctions are designed to take a heavy toll on the Kremlin’s interests and their ability to finance war.

And we know that millions of Russians do not want war. President Putin is trying to turn back the clock to the times of the Russian empire. But in doing so, he is putting at risk the future of the Russian people. I call on Russia to immediately stop the violence and to withdraw its troops from Ukraine’s territory. We will not let President Putin tear down the security architecture that has given Europe peace and stability over many decades. We will not allow President Putin to replace the rule of law by the rule of force and ruthlessness. He should not underestimate the resolve and strength of our democracies.

History has proven that societies and alliances built on trust and freedom are resilient and successful. And that is exactly what the autocrats fear. The European Union stands with Ukraine and its people. We will continue to support them. Ukraine will prevail.

https://ec.europa.eu/commission/presscorner/detail/en/statement_22_1322

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