The European Commission equated reducing the company’s share below 50 percent with circumventing sanctions. report departments.
The changes affected Art. Article 5aa of Sanctions Regulation No. 833/2014. This article regulates the prohibition of Europeans from conducting direct or indirect transactions with Russian companies with state participation included in Annex XIX. Additionally, the ban also applies to companies in which these companies own more than 50 percent.
Under the new rules, the European Commission will evaluate companies acting on behalf of or on the instructions of a sanctioned legal entity if their shareholding is reduced to 50 percent or less. The European Commission concluded that these measures were necessary due to suspicions about widespread cases of sanctions being circumvented by this method.
Before that the European Union could not be received 12th sanctions package proposals
Formerly US Treasury published Oil embargo instructions.