1. Essence of the act:
The regulation establishes a comprehensive sanctions framework targeting Russian entities involved in military, defense, aviation, electronics and shipbuilding industries. It creates a detailed registry of 313 companies and organizations subject to restrictive measures, effectively limiting their access to European markets, technologies, and resources. The measures represent a coordinated effort to constrain Russia’s military-industrial capabilities through economic restrictions.
2. Structure and main provisions:
The act is organized as a detailed sanctions registry that includes:
– Full identification details of each sanctioned entity (official names in English and Russian, alternative names, legal addresses)
– Technical information including registration numbers, tax IDs, and contact details
– Temporal implementation data showing multiple waves of sanctions (March-December 2022)
– Industry-specific categorization focusing on strategic sectors
– Ownership structure information for subsidiary companies
– Specific restriction types applicable to each entity
3. Key provisions for implementation:
The most critical elements include:
– Asset freeze provisions affecting all listed entities’ property within EU jurisdiction
– Complete prohibition of business transactions with sanctioned organizations
– Extension of restrictions to subsidiaries where ownership exceeds 50%
– Detailed compliance requirements for EU member states
– Specific provisions for authorized transactions under special licensing
– Mechanisms for regular updates and amendments to the sanctions list
– Clear identification of prohibited goods, services, and technologies
– Requirements for financial institutions regarding transaction monitoring
– Reporting obligations for EU entities regarding sanctioned party contacts
The legislation provides comprehensive technical details necessary for practical implementation while maintaining flexibility for updates as circumstances evolve.
