Handshake

TRANSACTION WITH PUBLIC ENTITIES OR LEGAL PERSON CONTROLLED WITH OVER 50% PUBLIC OWNERSHIP

 

PROHIBITION

It shall be prohibited to directly or indirectly engage in any transaction with:

(a) a legal person, entity or body established in Russia, which is publically controlled or with over 50 % public ownership or in which Russia, its Government or Central Bank has the right to participate in profits or with which Russia, its Government or Central Bank has other substantial economic relationship, as listed in Annex XIX;

(b) a legal person, entity or body established outside the Union whose proprietary rights are directly or indirectly owned for more than 50 % by an entity listed in Annex XIX; or

(c) a legal person, entity or body acting on behalf or at the direction of an entity referred to in point (a) or (b) of this paragraph.

ANNEX XIX

OPK OBORONPROM

UNITED AIRCRAFT CORPORATION

URALVAGONZAVOD

ROSNEFT

TRANSNEFT

GAZPROM NEFT

ALMAZ-ANTEY

KAMAZ

ROSTEC (RUSSIAN TECHNOLOGIES STATE CORPORATION) 

JSC PO SEVMASH

SOVCOMFLOT

UNITED SHIPBUILDING CORPORATION 

EXCEPTIONS

The prohibition (...) shall not apply to the execution until 15 May 2022 of contracts concluded before 16 March 2022 or ancillary contracts necessary for the execution of such contracts.

The prohibition (...) shall not apply to:

a) transactions which are strictly necessary for the direct or indirect purchase, import or transport of natural gas and oil, including refined petroleum products, as well as titanium, aluminium, copper, nickel, palladium and iron ore from or through Russia into the Union, a country member of the European Economic Area, Switzerland, or the Western Balkans;

(b) transactions related to energy projects outside Russia in which a legal person, entity or body listed in Annex XIX is a minority shareholder;

(c) transactions for the purchase, import or transport into the Union of coal and other solid fossil fuels, as listed in Annex XXII until 10 August 2022.

LEGAL SOURCE

EU Regulation (EU) 883/2014 of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. Article 5aa

The EU Regulation is directly applicable in all EU Member States.

The EU Regulation is based on EU Council Decision 2014/512/CFSP of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. Article 1aa