EN|RU|UK
 World
  30851

 EU Banned Export of More Than 250 Categories of Goods From Occupied Crimea

ес

The EU introduced a broad array of additional sanctions against the Ukrainian Crimea occupied by the Russian Federation besides additions to the blacklist adopted for Russia. The majority of the new trade restrictions against the Ukrainian Crimea occupied by Russia shall come into force this year July 31, the EU Official Journal said on Wednesday.

Censor.NET reports this citing ITAR-TASS. The new trade and investment restrictive measures are adopted in the framework of the EU strategy for the non-recognition of the Ukrainian Crimea occupied by Russia joining the Russian Federation. These measures include prohibiting the European companies to invest in new infrastructure projects, transport, telecommunications, energy sector as well as oil, gas and mineral resources extraction in Crimea. Not only direct and indirect investments are banned but also the provision of insurance services for any projects in these areas.

Read also: G7 Says Russia Will Face Further Sanctions for Supporting Terrorists in Ukraine

The Council of the EU separately stresses that the "financial services" also include "intermediary services in transactions with third (non-EU member) countries and the transit of goods to these countries, anticipating possible attempts by European companies to evade honoring the existing restrictive measures. Furthermore, "any kind of technical assistance to these projects provision is also prohibited". European banks are now forbidden "to grant loans or acquire any shares in new projects" in these sectors of the economy of Crimea and Sevastopol. The new sanctions will have no retroactive effect and will be applied to future projects. All financial and technical actions on contracts concluded before July 30 are allowed to be continued until 28 October 2014.

Read also: EU Adds Putin's Cronies and Oligarchs Rotenberg, Kovalchuk, Shamalov and Others to Sanctions Blacklist

The EU has also approved the list of Crimean goods categories prohibited to trade with. It includes virtually all possible mineral resources and their derivatives as well as hydrocarbons. In addition, the list includes industrial products for their production and extraction, which are pipes and drilling equipment including offshore extraction equipment. The first line in the list consisting of more than 250 items says "sea water and salt liquors". It is hard to say how efficient this new list of banned Crimean new projects for European businesses is. Earlier, the spokesman for the European Commission found it difficult to give a clear answer to the question of what major goods the EU countries traded with the Crimea in 2013, saying just that "perhaps we are talking about certain types of agricultural products." Censor.NET reported previously that Russian invaders are going to draw the Crimean citizens into the army in 2015.

Read also: British MPs: NATO Unprepared for Potential Threats from Russia

 
 
 
 up