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On 5 December the Official Journal published Council Decision 2014/872/CFSP and Council Regulation (EU) No 1290/2014 (both adopted 4 December 2014) amending the sanctions against Russia. The amendments come into force on 6 December 2014.
The latest EU measures are intended to provide additional clarity to the scope and application of certain provisions. They do not introduce new sanctions or widen the scope of existing sanctions. In particular, the new Decision and Regulation:
• Replace the phrase “deep water oil exploration and production, arctic oil exploration and production, or shale oil projects” with the following:
• oil exploration and production in waters deeper than 150 metres;
• oil exploration and production in the offshore area north of the Arctic Circle; or
• Projects that have the potential to produce oil from resources located in shale formations by way of hydraulic fracturing. It does not apply to exploration and production through shale formations to locate or extract oil from non-shale reservoirs.
• Clarify that the measures against the energy sector, contained in Articles 3, 3a and 4(3) of Council Regulation 833/2014, apply to Russia including its Exclusive Economic Zone and Continental Shelf.
• Clarify that the derogations applying to contracts or agreements concluded before a specified date also apply to ancillary contracts necessary for the execution of such contracts.
• Permit Member States to grant a licence under Articles 3 or 4(3) where the sale, supply, transfer or export of the items, or provision of related services, is necessary for the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health and safety or the environment.
• Impose a new notification requirement on the use of the existing exemption in Article 3a relating to the provision of services necessary for the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health and safety or the environment. The notification must be made within 5 working days of the activity taking place and must include the justification for the activity.
• Clarify that the only pumps within CN codes 8413 50 and 8413 60 that are specified in Annex II are those with a maximum flow-rate greater than 18 m³/hour and a maximum outlet pressure greater than 40 bar, specially designed to pump drilling muds and/or cement into oil wells.
• Make some changes to the financial restrictions within Article 5.
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