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Trade

The Council has identified 45 new entities directly supporting Russia’s military and industrial complex by, inter alia, enabling the circumvention of export restrictions on computer numerical control (CNC) machine tools, microelectronics, unmanned aerial vehicles (UAVs) and other advanced technology items. These entities will be subject to tighter export restrictions with regard to dual-use goods, as well as items which might generally contribute to the technological enhancement of Russia’s defence sector. 17 of these entities are located in third countries other than Russia (12 in China, including Hong Kong, three in India and two in Thailand).

The EU has also agreed to expand the existing export ban, to include electronic components, rangefinders, additional chemicals used in the preparation of propellants and additional metals, oxides and alloys used in the manufacturing of military systems. Salts and ores, articles made of rubber, tubes, tyres, millstones and construction materials will also be subject to more stringent export restrictions. Finally, the 19th package introduces a prohibition to purchase, import or transfer all acyclic hydrocarbons due to the importance of such materials in generating significant revenues for Russia.

Additionally, the EU is listing Russia’s largest gold producer, further constraining its revenue sources.