After intense debates in the Council of the European Union, the EU has agreed on an 11th package of sanctions against Russia and its supporters in their aggression against Ukraine.
The relevant Council Regulation (EU) 2023/1214 and Council Regulation (EU) 2023/1215 (respectively amending Regulation (EU) 833/2014 and Regulation (EU) 269/2014) have been published in the Official Journal of the EU, LI 159/1 on 23 June 2023. Following publication, the amending regulations entered into force on 24 June 2023. The 11th EU-Russia Sanctions Package includes, among other key elements, new targeted sanctions against individuals and entities, an expansion of the restrictions on the sale, export and now also transit of certain goods and technology, as well as additional measures to prevent circumvention. It introduces a new anti-circumvention tool that allows the EU to restrict the sale and export of sanctioned goods to certain third countries. Moreover, the new package targets “shadow” entities from Russia and third countries that intentionally circumvent EU sanctions.
Source Baker & McKenzie
