Article 1
Open ↗Decision 2014/512/CFSP is amended as follows: (1) Article 4p is amended as follows: (a) paragraph 1 is replaced by the following: ‘1. It shall be prohibited to provide, directly or indirectly, technical assistance, brokering services or financing or financial assistance, related to the trading, brokering or transport, including through ship-to-ship transfers, to third countries of crude oil or petroleum products which originate in Russia or which have been exported from Russia.’ ; (b) paragraph 4 is replaced by the following: ‘4. It shall be prohibited to trade, broker or transport, including through ship-to-ship transfers, to third countries crude oil falling under CN code 2709 00, as of 5 December 2022, or petroleum products falling under CN code 2710, as of 5 February 2023, as listed in Annex XXV to Regulation (EU) No 833/2014, which originate in Russia or which have been exported from Russia.’ ; (c) paragraph 5 is replaced by the following: ‘5. The prohibition in paragraph 4 of this Article shall apply as from the date of entry into force of the first Council Decision amending Annex XI in accordance with point (a) of paragraph 9 of this Article. As from the date of entry into force of every subsequent Council Decision amending Annex XI to this Decision, the prohibitions in paragraphs 1 and 4 of this Article shall not apply, for a period of 90 days, to the transport of products listed in Annex XXV to Regulation (EU) No 833/2014 which originate in Russia or which have been exported from Russia, and to the provision, directly or indirectly, of technical assistance, brokering services or financing or financial assistance, related to the transport, provided that: (a) the transport or the provision of technical assistance, brokering services or financing or financial assistance, related to the transport is based on a contract concluded before the date of entry into force of every subsequent Council Decision amending Annex XI to this Decision; and (b) the purchase price per barrel did not exceed the price laid down in Annex XI to this Decision on the date of conclusion of that contract.’ ; (d) paragraph 6 is replaced by the following: ‘6. The prohibitions in paragraphs 1 and 4 shall not apply: (a) as of 5 December 2022, to crude oil falling under CN code 2709 00, and as of 5 February 2023, to petroleum products falling under CN code 2710, which originate in Russia or which have been exported from Russia, provided that the purchase price per barrel of such products does not exceed the prices laid down in Annex XI to this Decision; (b) to crude oil or petroleum products as listed in Annex XXV to Regulation (EU) No 833/2014 where those goods originate in a third country and are only being loaded in, departing from or transiting through Russia, provided that both the origin and the owner of those goods are non-Russian; (c) to the transport, or to technical assistance, brokering services, financing or financial assistance related to such transport, of the products mentioned in Annex XII to this Decision to the third countries mentioned therein, for the duration specified in that Annex; (d) as of 5 December 2022, to crude oil falling under CN code 2709 00, which originates in Russia or which has been exported from Russia purchased above the price laid down in Annex XI to this Decision which is loaded onto a vessel at the port of loading prior to 5 December 2022 and unloaded at the final port of destination prior to 19 January 2023.’ ; (e) paragraph 8 is replaced by the following: ‘8. In the event that, after the entry into force of a Council Decision amending Annex XI, a vessel has transported the Russian crude oil or petroleum products referred to in paragraph 4, and the operator responsible for the transport knew or had reasonable cause to suspect that such crude oil or petroleum products were purchased above the price laid down in Annex XI on the date of conclusion of the contract for such purchase, it shall be prohibited to provide the services referred to in paragraph 1 relating to the transport of crude oil or petroleum products that originate in Russia or are exported from Russia as referred to in paragraph 4 by that vessel for 90 days following the date of unloading of the cargo purchased above the price cap.’ ; (f) the following paragraphs are added: ‘10. The prohibitions in paragraph 1 and 4 shall not apply to the transport or provision of technical assistance, brokering services or financing or financial assistance, related to the transport necessary for the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health and safety or the environment, or as a response to natural disasters, provided that the national competent authority has been notified immediately once the event has been identified. 11. The Member States and the Commission shall inform each other of detected instances of a breach or circumvention of the prohibitions set out in this Article. Any information provided or received in accordance with this Article shall be used for the purposes for which it was provided or received, including ensuring the effectiveness of the measure. 12. The functioning of the price cap mechanism, including Annex XI as well as the prohibitions in paragraphs 1 and 4 of this Article, shall be reviewed as of mid-January 2023 and every 2 months thereafter. The review shall take into account the effectiveness of the measure in terms of its expected results, its implementation, international adherence to and informal alignment with the price cap mechanism, and its potential impact on the Union and its Member States. It shall respond to developments in the market, including possible turbulences. In order to achieve the objectives of the price cap, including its ability to reduce Russia’s oil revenues, the price cap shall be at least 5% below the average market price for Russian oil and petroleum products, calculated on the basis of data provided by the International Energy Agency.’ . (2) Annex XI is amended as set out in the Annex to this Decision.