[Revised] The European Union’s 6th Sanctions Package－EU Regulation 833/2014 28 July 2022 No.22-007-1 Tweet Download PDF (611KB) On 21 July 2022 the European Union published a Maintenance and Alignment Package. The package included amendments to Regulation (EU) No. 833/2014 which amongst other things clarified the circumstances in which the exceptions contained in Article 5 (aa) (3) may apply. A copy of the Official Journal of the EU 21 July 2022 publishing the changes may be accessed here . We are pleased to inform you that we have revised the Circular. --------------------------------------------------------------------------------------------------------------------------------------------- On the 3rd of June 2022 the EU published its 6th package of sanctions against Russia (EU Regulation 833/2014, the “Regulation”). This circular is not intended to be a comprehensive summary of the EU sanctions against Russia. It focuses on: the measures in the 6th package of sanctions which impact on the transport and insurance of oil and petroleum products; and the prohibitions on transacting with Russian state-owned enterprises subject to the Article 5aa restrictions and as listed in Annex XIX of the Regulation. Summary It is important to read the restrictions in context and in full. In broad, general terms, the position is now that: EU shipowners can carry Russian oil and petroleum products to third countries (so long as no sanctioned parties involved). It is prohibited for EU insurers to insure the transport of Russian oil and petroleum products being carried to third countries. However, it is permitted to execute contracts concluded before 4th June 2022 until 5th December 2022. It is thought that it is the insurance contract which needs to have been concluded by 4th June for the exemption until 5th December 2022 to apply. EU shipowners are generally prohibited, subject to the exemptions set out in the Regulation, from carrying Russian oil into the EU. There is a corres