9th sanctions package adopted
New sanctions are set to target the war industry
The main goal of the current package of sanctions is to prevent the Russian Federation’s war machine from being supplied with dual-use products and technologies, as well as technologies that could serve to strengthen Russia’s defense and security sector. Added to the list of measures subject to export restrictions are drone engines, night vision and radio-navigation equipment, crowd dispersal agents and electronic components suitable for use in aviation and space industries, to name a few. The restrictions also include a ban on new investments in Russia’s mining sector, except for mining and quarrying activities on certain critical raw materials.
The prohibition of holding certain corporate post for European Union citizens
The new package also prohibits European Union residents from holding positions in the governing bodies of legal entities or bodies based in Russia that are subject to public control or are more than 50% publicly owned or in which Russia, its government or its central bank has the right to share in profits or with which Russia, its government or its central bank has other significant economic relations. This also applies to legal entities controlled by or operating under the direction of such entities.
Bans in the service provision sector market
Following the previously introduced bans on the provision of accounting, consulting or legal services, the new sanctions statute bans on the provision of advertising, market and public opinion research services by EU entities, as well as the provision of product testing and technical inspection services to the Russian Federation.
We would like to remind you that specialists from our law firm have been providing specialized counseling in this area since the beginning of the introduction of sanctions, addressed to entrepreneurs and entities operating on the markets in Poland and the European Union.