EU Adds 48 Individuals, 9 Entities to Russian Sanctions List
As part of its seventh sanctions package on Russia, the European Council added 48 individuals and nine entities to its sanctions list, including Russia's largest bank Sberbank and high-ranking members of the political class, Russian military and cultural establishment. The newly listed entities are Avlita Stevedoring; Nightwolves MC, a nationalist motorcycle club; Alexander Gorchakov Public Diplomacy Fund; Federal Agency for the Commonwealth of Independent State Affairs, Compatriots Living Abroad and International Humanitarian Cooperation; Russkiy Mir Foundation; JSC Research and Production Assocation "Kvant"; Sberbank; Forss Group; and All-Russia "Young Army" Military Patriotic Social Movement.
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The EU recently adopted sanctions package imposing new bans on the import of gold and export of dual-use goods, among other measures (see 2207210019). The individual and entity additions bolster that list while also introducing an exemption from the asset freeze on making funds available to listed individuals and entities where needed for the prevention of an event likely to have a serious impact on human health and safety of the environment, the purchase of agricultural and food products and the orderly wind-down of operations.
The new measures further task listed individuals and entities with assets in a member state's jurisdiction to report the assets and to cooperate in the verification of the reporting. The European Council also boosted the provisions on reporting obligations for EU operators.