European leaders tighten sanctions on Crimea and Sevastopol in latest move against illegal annexation by Russia

Written by on December 18, 2014 in Bulgaria - Comments Off on European leaders tighten sanctions on Crimea and Sevastopol in latest move against illegal annexation by Russia

European Union government leaders have imposed substantial additional sanctions on investment, services and trade with Crimea and Sevastopol, to reinforce the EU’s policy of not recognising their illegal annexation by Russia.

This was announced by the European Council on December 18, as a follow-up to an agreement among EU foreign ministers the previous day. The sanctions will take effect on December 20.

From December 20, investment in Crimea or Sevastopol is outlawed, the European Council statement said.

Europeans and EU-based companies may no longer buy real estate or entities in Crimea, finance Crimean companies or supply related services.

In addition, EU operators will no longer be permitted to offer tourism services in Crimea or
Sevastopol.

In particular, European cruise ships may not 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 March 20.

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 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.

(Photo, of European Commission President Jean-Claude Juncker, left, and European Council President Donald Tusk: EC Audiovisual Service)

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