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14th Sanctions package adopted
26.06.2024.

On 24 June 2024, the 14th set of restrictive measures against the Russian Federation was adopted. Briefly on the essentials in the 14th sanctions package.

Energy-related measures:

  1. The package prohibits reloading services, including ancillary services, in the European Union for transhipment operations where such services are used for the transhipment of liquefied natural gas (LNG) originating in the Russian Federation or exported from the Russian Federation, except when such transhipment takes place to Member States;
  2. Prohibition of new investment and the supply of goods, technology, and services to complete LNG projects such as Arctic LNG 2 and Murmansk LNG.

Anti-circumvention measures:

  1. European Union parent companies must make every effort to ensure that their subsidiaries in third countries do not participate in sanctions evasion;
  2. EU natural and legal persons selling sensitive goods and technologies as listed in Regulation (EU) No 833/2014 to third countries must have in place risk-appropriate control mechanisms capable of identifying and mitigating possible re-exports of goods to the Russian Federation;
  3. European Union natural and legal persons are required to contractually prohibit their counterparties in third countries from using or allowing the use of information protected by intellectual property rights or as trade secrets and transferred to them in connection with common high priority items to be sold, supplied, or exported to the Russian Federation or for use in the Russian Federation.

Financial measures:

  1. European Union legal persons operating outside the Russian Federation are prohibited from connecting directly to the SPFS (the Russian Federation’s equivalent of SWIFT) or equivalent specialised financial messaging systems established by the Central Bank of Russia;
  2. European Union legal persons are prohibited from conducting business with respect to certain listed entities that use the SPFS outside the Russian Federation. The abovementioned measures do not apply to legal persons established and operating in the Russian Federation, including subsidiaries of European Union legal persons;
  3. Political parties, foundations, associations, non-governmental organisations, including think tanks, and media service providers in the European Union are prohibited from accepting, directly or indirectly, funding, donations, or any other economic benefit or support from the Russian Federation.

Logistics/transport measures:

  1. Banned access to ports and locks of European Union Member States, as well as a ban on provision of a wide range of maritime transport services for specific vessels contributing to Russia’s warfare against Ukraine (targeting the shadow fleet);
  2. Additional restrictions are introduced on scheduled and non-scheduled flights where Russian Federation persons may determine the place or time of take-off or landing (including holidays and business meetings);
  3. Broadened prohibition on the transport of goods by road within the territory of the European Union, including in transit, so as to cover European Union companies which are owned 25% or more by a natural or legal person of the Russian Federation.

Import/export measures:

  1. Imposed export restrictions on an additional 61 items supporting the military and industrial complex of the Russian Federation in its war of aggression against Ukraine, located in various countries including China, Kazakhstan, Kyrgyzstan, Turkey, and the United Arab Emirates;
  2. Additional restrictions are imposed on the export of goods that could contribute in particular to the enhancement of the Russian Federation’s industrial capabilities, e.g. chemicals, including manganese ores and compounds of rare-earths, as well as plastics, excavating machinery, monitors, and electrical equipment. In addition, five common high priority items were added to the export restrictions;
  3. Further restrictions are imposed on the import of helium, which is a source of significant revenues for the Russian Federation, allowing it to continue its war of aggression against Ukraine;
  4. Prohibition to acquire, import, transfer, or export Ukrainian cultural objects and other goods of archaeological, historical, cultural, rare scientific, or religious importance where there are reasonable grounds to suspect that the goods have been illegally removed from Ukraine. A ban on the provision of related services has been introduced in addition.

Measures protecting intellectual property rights:

  1. Restrictions on accepting applications for the registration of certain intellectual property rights in the European Union submitted by natural and legal persons of the Russian Federation.

Amendments regarding diamonds:

  1. It is clarified that the ban does not encompass diamonds that were physically located either within the European Union or in a third country, or were polished or manufactured in such third country, before the entry into force of the Russian Federation diamond ban;
  2. Temporary import or export of jewellery for auctions and repairs is allowed;
  3. The transitional period after which traceability scheme for diamonds will become mandatory is extended by 6 months (until 1 March 2025);
  4. It is stipulated that the indirect import ban on Russian Federation diamonds processed in third countries other than the Russian Federation temporarily will not apply to jewellery containing such diamonds until otherwise decided by the Council, taking into account the action taken within the G7 to implement the abovementioned measure.

The latest sanctions impose restrictive measures against additional 116 natural and legal persons responsible for acts that undermine or threaten the territorial integrity, sovereignty, and independence of Ukraine. The listed persons are subject to an asset freeze and are prohibited from making funds available to citizens and companies of the European Union.

Furthermore, natural and legal persons of the European Union Member States are allowed to receive compensation from natural and legal persons of the Russian Federation for damage caused to them.

It is also prohibited to carry out transactions with persons listed in Annex XLIII to Regulation (EU) No 833/2014 who apply the Arbitration Procedural Code of the Russian Federation in order to settle claims under foreign jurisdiction.

Publications in the Official Journal of the EU:

  1. https://eur-lex.europa.eu/legal-content/LV/TXT/HTML/?uri=OJ:L_202401745 (amendments to Regulation (EU) No 833/2014);
  2. https://eur-lex.europa.eu/legal-content/LV/TXT/HTML/?uri=OJ:L_202401739 (amendments to Regulation (EU) No 269/2014).
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15.10.2026 08:00
International conference “Sanctions Work: Degrading Russia’s War Machine” to be streamed live on 12 November
The Financial Intelligence Unit of Latvia (FIU Latvia) invites the public to watch the livestream of its 8th annual international sanctions conference “Sanctions Work: Degrading Russia’s War Machine” online, on 12 November, starting at 10:00 (Riga time). Register here: https://sanctionsconference.fid.gov.lv/en/online-01p The conference will bring together leading sanctions experts and policymakers to discuss the effectiveness of sanctions and the fight against sanctions violations, their role in reducing Russia’s warfighting capabilities, as well as strengthening global security and resilience. This year, the conference will focus on the practical impact of sanctions on Russia’s ability to continue its war. Experts will examine which sanctions measures have delivered concrete and measurable results in practice, with particular attention to experience and best practices in sanctions implementation, enforcement, and tackling sanctions violations. The conference will also feature a presentation of a report by the European Court of Auditors assessing how effectively the European Union implements trade-related sanctions imposed on Russia, with a particular focus on the roles of the European Commission and EU Member States in their enforcement. The conference programme will focus on three key topics: Export restrictions on Common High Priority (CHP) items – effective approaches to preventing these goods from reaching Russia and disrupting supply chains that support its military-industrial capabilities, including efforts to counter diversion through third countries and other sanctions-circumvention techniques. The role of crypto-assets in sanctions circumvention – including the use of crypto-assets to facilitate payments linked to CHP items and other restricted goods. Energy sanctions and other measures aimed at reducing Russia’s revenues – measures that have proven effective in restricting Russia’s energy revenues and capabilities, methods used to circumvent energy-sector sanctions, and the role of the shadow fleet. The conference will bring together distinguished speakers such as Head of the Sanctions Hub of Excellence at Kyiv School of Economics Institute Yuliia Pavytska, Head of EU External Relations Division at French Ministry for Europe and Foreign Affairs Timothée Truelle, Head of Sanctions and Export Controls at Maersk Anu Mathur Boyd, along with other leading experts from the public and private sectors across the EU and the United Kingdom. The conference agenda, together with a link to the live stream, will be sent to registered participants a few days before the event. The conference will be held in English, while the live stream will be available in both English and Latvian. FIU Latvia is an independent authority responsible for preventing money laundering and terrorist financing, implementing sanctions, protecting the Latvian financial system from misuse, and cooperating with international partners.
14.10.2026 14:19
EU Expands Sanctions Lists
On Monday, 12 October 2026, the Council of the European Union (EU) decided to significantly expand its sanctions lists targeting Russia, imposing additional restrictive measures on more than 1,600 individuals and legal entities. Sanctions have been imposed on: 826 companies; 743 individuals; 77 individuals involved in organizing illegal “elections”. The sanctions lists have been expanded to include 826 companies operating within Russia’s military-industrial complex and 743 individuals who are CEOs of these companies. The listed companies and individuals are linked to Russia’s military capabilities, including the supply of critical components used in the production of missiles, unmanned aerial vehicles (UAVs) and aircraft. In addition, the EU has imposed sanctions on 77 individuals involved in the illegal Russian-organized State Duma “elections” held in September 2026 in the temporarily occupied territories of Ukraine. These include 74 candidates and three members of the Central Election Commission of the Russian Federation. The listed individuals and entities are subject to an asset freeze, and EU citizens and companies are prohibited from making funds or economic resources available to them, directly or indirectly. The listed individuals are also subject to a travel ban, preventing them from entering or transiting through EU territory. The additions adopted on 12 October constitute the largest single expansion of EU sanctions listings to date in connection with Russia’s war of aggression against Ukraine. Updated Sanctions Lists Published by the Council of the EU List of companies and individuals associated with Russia’s military-industrial complex: https://eur-lex.europa.eu/legal-content/LV/TXT/HTML/?uri=OJ:L_202602281(Latvian language) https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202602281 (English language) List of individuals involved in organizing the illegal “elections”: https://eur-lex.europa.eu/legal-content/LV/TXT/HTML/?uri=OJ:L_202602292(Latvian language) https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202602292  (English language) Useful Information on Sanctions Implementation Frequently Asked Questions (FAQ) Further information on EU sanctions is available on the EU Sanctions Map. FIU Latvia is an independent authority responsible for preventing money laundering and terrorist and proliferation financing, implementing sanctions, protecting the Latvian financial system from misuse, and cooperating with international partners.
15.09.2026 12:39
FIU Latvia at Kyiv Sanctions Forum: sanctions implementation is a collective effort at EU level
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