On the dawn of the third anniversary of the Ukrainian invasion by the Russian Federation, the EU Council approved the 16th economic sanctions package.

In particular, the restrictive measures affect important sectors of the Russian economy such as energy, trade, transportation, infrastructure and financial services. At the same time, the economic sanctions package identifies additional individuals and legal entities subject to fund freezing measures and other economic restrictions. One of the new features of the Regulations published on Feb. 24 is the introduction of a list of ports and airports against which direct or indirect operations are prohibited because they are generally used to transport military components.

In addition, sectors such as construction services, civil engineering works and additional restrictions on exports of certain categories of goods (e.g., software for oil and gas exploration) were included in the measures.

At the same time, numerous exceptions to restrictive measures have been provided so as not to undermine key sectors of international trade.