Global Trade Alert
Global Trade Alert

EU: New sanctions package targeting Russia includes diamond import ban and other trade and economic measures

Announcement

18 Dec 2023

In December 2023, the European Union adopted its twelfth sanctions package against Russia in the context of its invasion of Ukraine. The package includes trade, sectoral and other economic measures that met GTA reporting criteria. 

Source

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Number of interventions

17

15 certainly harmful

0 likely harmful

2 liberalising

List of interventions

11 in force

Implementation date

01 Oct 2028

Revocation date:

No revocation date

Import ban

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 establishing an import ban for steel products enclosed under CN codes 7207.12.10 and 7224.90 originating from Russia. The bans wil...

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Implementation date

01 Oct 2027

Revocation date:

No revocation date

Import quota

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 reducing the temporary import quotas for certain steel products originating from Russia for the period starting on 1 October 2027 ...

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Implementation date

01 Oct 2026

Revocation date:

No revocation date

Import quota

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 reducing the temporary import quotas for certain steel products originating from Russia for the period starting on 1 October 2026 ...

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Implementation date

01 Jan 2026

Revocation date:

No revocation date

Import ban

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 establishing an import ban for steel products enclosed under CN codes 7201 and 7203 originating from Russia. The bans will enter i...

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Implementation date

01 Oct 2025

Revocation date:

No revocation date

Import quota

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 reducing the temporary import quotas for certain steel products originating from Russia for the period starting on 1 October 2025 ...

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Implementation date

01 Jan 2025

Revocation date:

No revocation date

Import quota In force

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 reducing the temporary import quotas for certain steel products originating from Russia for the period starting on 1 January to 31...

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Implementation date

01 Oct 2024

Revocation date:

No revocation date

Import quota In force

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 extending temporary import quotas for certain steel products originating from Russia beyond October 2024. As before this announcem...

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Implementation date

01 Sep 2024

Revocation date:

No revocation date

Import ban In force

On 18 December 2023, the European Union adopted Council Regulation (EU) 2023/2878 establishing an import ban on diamonds and products containing diamonds processed in any country as long as it contain...

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Implementation date

01 Mar 2024

Revocation date:

No revocation date

Import ban In force

On 18 December 2023, the European Union adopted Council Regulation (EU) 2023/2878 establishing an import ban on diamonds processed in any country as long as it contains Russian diamonds. The measure i...

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Implementation date

18 Jan 2024

Revocation date:

No revocation date

FDI: Entry and ownership rule In force

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 prohibiting Russian nationals or persons residing in Russia to "directly or indirectly own or control" entities, including compani...

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Labour market access In force

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 prohibiting Russian nationals or persons residing in Russia to "hold any posts in the governing bodies of" entities, including com...

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Implementation date

01 Jan 2024

Revocation date:

No revocation date

Import ban In force

On 18 December 2023, the European Union adopted Council Regulation (EU) 2023/2878 establishing an import ban on diamonds and products incorporating diamonds from Russia. The measure is adopted in the ...

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Implementation date

19 Dec 2023

Revocation date:

No revocation date

Import ban In force

On 18 December 2023, the European Union adopted Council Regulation (EU) 2023/2878 extending the list of products that generate significant revenues for Russia subject to an import ban. The measure is ...

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Export ban In force

On 18 December 2023, the European Union adopted Council Regulation (EU) 2023/2878 extending the list of products subject to an export ban to Russia. The measure creates a new Annex for software and ad...

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Export ban In force

On 18 December 2023, the European Union adopted Council Regulation (EU) 2023/2878 adding 29 firms to the list of firms that cannot, under any circumstances, get an exception from the export ban on dua...

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Export-related non-tariff measure, nes In force

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 prohibiting the sale or ownership transfer of oil and petroleum tankers ships classified under CN code 8901.20 in favour of any Ru...

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Implementation date

19 Dec 2023

Revocation date:

No revocation date

Import quota

On 18 December 2023, the EU adopted Council Regulation (EU) 2023/2878 establishing temporary import quotas for certain steel products originating from Russia starting on 19 December 2023. As before th...

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