Commission Implementing Regulation (EU) 2022/2368 of 3 December 2022 amending Council Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine
Date: 2022-12-03
Institutions: Directorate-General for Financial Stability, Financial Services and Capital Markets Union, European Commission
Subjects: EU restrictive measure, Russia, Ukraine, crude oil, economic sanctions, international sanctions, maximum price, petroleum product, territorial dispute, territorial law, trade restriction








LI2022311EN.01000501.xml










3.12.2022   


EN


Official Journal of the European Union


LI 311/5








            COMMISSION IMPLEMENTING REGULATION (EU) 2022/2368
of 3 December 2022
         
amending Council Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine


THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union, in particular Article 215 thereof,


Having regard to Council Decision (CFSP) 2022/2369 of 3 December 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (1),

Whereas:







(1)


On 31 July 2014, the Council adopted Regulation (EU) No 833/2014 (2).












(2)


Regulation (EU) No 833/2014 gives effect to certain measures provided for in Council Decision 2014/512/CFSP (3).












(3)


Decision (CFSP) 2022/1909 of 6 October 2022 introduced an exemption from the prohibition to provide maritime transport and the prohibition to provide technical assistance, brokering services or financing or financial assistance, related to the maritime transport to third countries of crude oil or petroleum products which originate in or are exported from Russia, purchased at or below a pre-established price cap agreed by the Price Cap Coalition. That exemption should mitigate adverse consequences on energy supply to third countries and reduce price surges driven by extraordinary market conditions, while limiting Russian oil revenues.












(4)


On 3 December 2022, the Council amended Decision 2014/512/CFSP to introduce the price cap into its Annex XI, that is the price per barrel at or below which crude oil from Russia is exempt from the prohibition to provide maritime transport and the prohibition to provide technical assistance, brokering services or financing or financial assistance, related to the maritime transport to third countries.












(5)


Annex XXVIII to Regulation (EU) No 833/2014 should therefore be amended accordingly,





HAS ADOPTED THIS REGULATION:



Article 1
Annex XXVIII to Regulation (EU) No 833/2014 is amended as set out in the Annex to this Regulation.


Article 2
This Regulation shall enter into force on the day following that of its publication in the Official Journal of the European Union.




This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 3 December 2022.


For the Commission


The President

Ursula VON DER LEYEN
            





(1)  
            OJ L 311 I, 3.12.2022.

(2)  Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (OJ L 229, 31.7.2014, p. 1).

(3)  Council Decision 2014/512/CFSP of 31 July 2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (OJ L 229, 31.7.2014, p. 13).




ANNEX
In Annex XXVIII to Council Regulation (EU) No 833/2014, the following table is inserted:








CN Code


Description


Price per barrel (USD)


Date of application




2709 00 


Petroleum oils and oils obtained from bituminous minerals, crude


60 


5 December 2022