lexiara

Preamble

THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 215 thereof, Having regard to Decision (CFSP) 2022/327 (1) of 25 February 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine, Having regard to the joint proposal from the High Representative of the Union for Foreign Affairs and Security Policy and the European Commission, Whereas: (1) On 31 July 2014, the Council adopted Regulation (EU) No 833/2014 (2). (2) Regulation (EU) No 833/2014 gives effect to certain measures provided for in Council Decision 2014/512/CFSP (3) and prohibits the sale, supply, transfer or export of dual-use goods and technology to any person, entity or body in Russia or for use in Russia, if those items are for military use or for military end-users. It also bans the sale of such goods and technology to specified legal persons in Russia and prohibits the provision of technical assistance and other related services as well as financing and financial assistance related to such goods and technology. In addition, it requires operators to obtain a prior authorisation for the sale, supply, transfer or export of certain technologies for the oil industry in Russia and prohibits the provision of associated services necessary for deep-water oil exploration and production, arctic oil exploration and production or shale oil projects in Russia, including its Exclusive Economic Zone and Continental Shelf. It also prohibits the provision of technical assistance related to the goods and technology listed in the Common Military List of the European Union or related to the provision, manufacture, maintenance and use of such goods. It also imposes restrictions on access to the Union capital market for certain Russian financial institutions, entities as well as Russia, its Government and its Central Bank. (3) On 24 January 2022, recalling the December 2021 European Council conclusions, the Council reiterated that any further military aggression by Russia against Ukraine would have massive consequences and severe costs. (4) In view of the gravity of the situation, on 25 February 2022 the Council adopted Decision (CFSP)2022/327, amending Decision 2014/512/CFSP and imposing further restrictive measures in various sectors, particularly defence, energy, aviation and finance. (5) Decision (CFSP) 2022/327 imposes further restrictions on exports of dual-use goods and technology and on the provision of related services, as well as restrictions on exports of certain goods and technology which might contribute to Russia’s technological enhancement of its defence and security sector. It also introduces restrictions on the provision of related services. Limited exemptions to such restrictions are envisioned for legitimate and pre-determined purposes. Furthermore, that Decision prohibits the provision of public financing or financial assistance for trade with, or investment in, Russia, subject to certain exceptions. (6) Decision (CFSP) 2022/327 also prohibits the sale, supply, transfer or export to Russia of specific goods and technologies for use in oil refining, together with restrictions on the provision of related services. (7) Furthermore, Decision (CFSP) 2022/327 introduces an export ban covering goods and technology suited for use in aviation and the space industry and prohibits the provision of insurance and reinsurance and maintenance services in relation to those goods and technology. It also prohibits the provision of technical assistance and other related services as well as financing and financial assistance in relation to the goods and technology subject to this prohibition. (8) Decision (CFSP) 2022/327 further expands the existing financial restrictions, in particular those on access by certain Russian entities to the capital markets. It also prohibits the listing and provision of services in relation to shares of Russian state-owned entities on Union trading venues. In addition, it introduces new measures which significantly limit the financial inflows from Russia to the Union by prohibiting the acceptance of deposits exceeding certain values from Russian nationals or residents, the holding of accounts of Russian clients by the Union central securities depositories as well as the selling of euro-denominated securities to Russian clients. (9) These measures fall within the scope of the Treaty and, therefore, in particular with a view to ensuring their uniform application in all Member States, regulatory action at the level of the Union is necessary. (10) In order to ensure uniform conditions for the implementation of this Regulation, implementing powers should be conferred on the Commission. (11) The Commission will monitor the application of these measures. To ensure the effectiveness of export controls on Union goods and technology which might contribute to Russia’s technological enhancement of its defence and security sector, the Commission will act in coordination with Member States, and as the case may be with partner countries, with a view, in justified and documented cases, to adapting the list of those goods and technology as appropriate. (12) Regulation (EU) No 833/2014 should therefore be amended accordingly, HAS ADOPTED THIS REGULATION:

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Source: EUR-Lex (Cellar) · retrieved 2026-10-17 · Text as adopted (Official Journal); later amendments are not incorporated in this text.