The European Council issued a statement today, announcing that technical assistance to Russian aviation sector will not violate any of the European Union’s sanctions as long as it is “needed to safeguard the technical industrial standard setting work of the International Civil Aviation Organization”.
The European Union has issued a statement today, clarifying what kind business deals with Russia are still permitted amid the economic sanctions the block has imposed on Russia over its war of aggression in Ukraine.
The list of exemptions includes technical assistance to the Russian aviation sector under certain conditions, and any business deals related to the food and fertilizer commerce.
According to the European Union‘s statement, transactions with Russia’s “certain state-owned entities” will also be allowed if they are related to agricultural products or the export of oil to third countries.
Trade “in agricultural and food products, including wheat and fertilizers” between Russia and any third country is also not affected by existing EU sanctions “in any way,” EU said.
“We are … extending the exemption of transactions for agricultural products and transfer of oil to third countries,” High Representative of the Union for Foreign Affairs and Security Policy, Josep Borrell, said, commenting on the decision.
“The European Union is doing its part to ensure we can overcome the looming global food crisis,” he added.
Any non-EU countries and their citizens “operating outside of the European Union” can also buy any pharmaceutical or medical products from Russia without fear of repercussions from Brussels, the statement said.
The clarification has been issued as the European Union slapped Russia with new round of sanctions, which included an EU-wide ban on Russian gold imports. EU also froze the assets of Sberbank, Russia’s largest lender.
The sanctions expanded the list of “controlled items” that Brussels says, “may contribute to Russia’s military and technological enhancement or the development of its defense and security sector.” A port access ban for Russian vessels was extended as well.
The EU Commission described the latest round of restrictions as a “maintenance and alignment” package intended to tighten loopholes in existing sanctions and align the EU with its other Western allies on gold imports.