On 29 July, European Council President Herman Van Rompuy and the President of the European Commission announced in the name of the European Union a package of significant additional restrictive measures targeting sectoral cooperation and exchanges with the Russian Federation.
These restrictive measures will:
- limit access to EU primary and secondary capital markets for Russian state-owned financial institutions
- impose an embargo on trade in arms
- establish an export ban for dual use goods for military end users
- curtail Russian access to certain sensitive technologies that can be used for oil production and exploration
These restrictions, adopted by written procedure on 31 July, will be published in the EU Official Journal on the same day and will apply from 1 August.
On 30 July, decisions on asset freeze and visa ban, and trade and investment restrictions for Crimea and Sebastopol were also adopted by written procedure and have now entered into force.
Asset freeze and visa ban
8 persons and 3 entities have been added to the list. This brings the number of persons and entities under EU restrictions over the situation in Ukraine to 95 persons and 23 entities.
Trade and investment restrictions for Crimea and Sevastopol
The Council adopted restrictive measures related to trade and investments linked to 6 sectors; ban on certain new investment, export ban on key equipment for certain sectors, and financial and insurance services related to such transactions
