EU Council imposes additional trade, investment sanctions on Crimea

EU Council imposes additional trade, investment sanctions on Crimea

The Council of the European Union on Thursday approved substantial additional sanctions on investment, services and trade with Crimea and Sevastopol, a press service of the Council of European Union reported.

"From December 20, investment in Crimea or Sevastopol is outlawed. Europeans and EU-based companies may no more buy real estate or entities in Crimea, finance Crimean companies or supply related services," the press service said.

Besides, EU operators will no more be permitted to offer tourism services in Crimea or Sevastopol.

In particular, European cruise ships may no more call at ports in the Crimean peninsula, except in case of emergency. This applies to all ships owned or controlled by a European or flying the flag of a member state. Existing cruise contracts may be still be honored until March 20, 2015.

The EU Council also prohibited to export certain goods and technology to Crimean companies or for use in Crimea. These concern the transport, telecommunications and energy sectors or the prospection, exploration and production of oil, gas and mineral resources.

Moreover, technical assistance, brokering, construction or engineering services related to infrastructure in the same sectors must not be provided.

The decision was adopted by written procedure. Legal texts are available in the Official Journal of December 19. The measures are applicable from December 20.

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