Q&As

Consolidated FAQs on the implementation of Council Regulation No 833/2014 and Council Regulation No 269/2014 [Version of 8 March 2023]

ID 22173

The European Commission (EC) has published an updated consolidated version of its „FAQs on the implementation of Council Regulation No 833/2014 and Council Regulation No 269/2014“ in the light of the ongoing conflict in Ukraine. The consolidated version includes FAQs concerning EU sanctions „adopted following Russia’s military aggression against Ukraine“.
The update includes the following changes in section G „SECTOR SPECIFIC QUESTIONS“, topic 5 „STATE-OWNED ENTERPRISES“ page 287, which we would like to present in full, quote:
13. Does Article 5aa prohibit transactions with the Russian Maritime Register of Shipping for the transport of agricultural and food products?
No. The transaction ban contains an exemption for transactions necessary for the purchase, import or transport of agricultural and food products, including wheat and fertilisers whose import, purchase and transport is allowed under Council Regulation (EU) 833/2014.
Accordingly, under this exemption, EU operators such as EU insurance providers can provide the services to RMRS, directly or indirectly, if they are necessary for the purchase, import or transport of such products without having to request an authorisation to a Member State.
EU sanctions do not apply extra-territorially, hence Article 5aa does not prohibit operators that are not established under the jurisdiction of an EU Member State, including non-EU vessels, from transacting with RMRS outside of the EU, for purchase, import or transport in the aforesaid products.

Other Features
commodities
companies
insurance
prohibition
restrictions
sanctions
trading
Ukrainian conflict
Date Published: 2023-03-08
Regulatory Framework: EU Sanctions
Regulatory Type: Q&As

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