The European Union has imposed substantial additional sanctions on investment, services and trade with Crimea and Sevastopol. From 20 December, investment in Crimea or Sevastopol is outlawed. Europeans and EU-based companies may no more buy real estate or entities in Crimea, finance Crimean companies or supply related services, the EU Council said in a statement.
“This is to reinforce the EU’s policy of not recognising their illegal annexation by Russia and follows a conclusion by the Foreign Affairs Council of 17 November,” the statement said.
“In addition, EU operators will no more be permitted to offer tourism services in Crimea or Sevastopol. In particular, European cruise ships may no more call at ports in the Crimean peninsula, except in case of emergency. This applies to all ships owned or controlled by a European or flying the flag of a member state. Existing cruise contracts may be still be honoured until 20 March,” it said.
It has also been prohibited to export certain goods and technology to Crimean companies or for use in Crimea. These concern the transport, telecommunications and energy sectors or the prospection, exploration and production of oil, gas and mineral resources.
Technical assistance, brokering, construction or engineering services related to infrastructure in the same sectors must not be provided.
“The decision was adopted by written procedure. Legal texts are available in the Official Journal of 19 December. The measures are applicable from 20 December,” the statement said.
“These measures add to an import ban on goods from Crimea and Sevastopol, imposed in June, as well as restrictions introduced in July on trade and investment related to certain economic sectors and infrastructure projects,” it added.
More information:
Council conclusions on Ukraine, 17 November 2014
