Decision 2014/512/CFSP is amended as follows:
(1)
in Article 1aa, the following paragraph is inserted:
‘2f. The prohibition in paragraph 1 shall not apply with regard to entities established in the Union and acting on behalf of or at the direction of entities referred to in paragraph 1, point (a) or (b), provided that:
(a)
competent authorities have imposed a public trusteeship or similar public firewall measure on such an entity; or
(b)
a similar firewall measure is authorised by competent authorities in order to ensure their continued functioning and compliance with restrictive measures.’
;
(2)
in Article 1ad, paragraph 2 is replaced by the following:
‘2. It shall be prohibited to engage, directly or indirectly, in any transaction with a legal person, entity or body established outside Russia as listed in Annex XVIII.
Annex XVIII shall include the legal persons, entities or bodies established outside Russia that use the SPFS of the Central Bank of Russia or equivalent specialised financial messaging services set up by the Central Bank of Russia or the Russian State.’
;
(3)
Article 1ae is replaced by the following:
‘Article 1ae
1. It shall be prohibited to directly or indirectly engage in any transaction with a legal person, entity or body established outside of the Union that:
(a)
is a credit or financial institution or an entity providing crypto assets services that is significantly frustrating the purpose of the prohibitions in this Decision and Decision 2014/145/CFSP, and in Regulations (EU) No 833/2014 and (EU) No 269/2014, as listed in Part A of Annex XIX to this Decision;
(b)
is a credit or financial institution or an entity providing crypto assets services that supports Russia’s war of aggression against Ukraine, including by processing transactions or providing export financing for trade operations that frustrate the purpose of this Decision, as listed in Part B of Annex XIX to this Decision;
(c)
is not a credit or financial institution or an entity providing crypto assets services and is significantly frustrating the purpose of the prohibitions set out in Articles 4o, 4p and 4x of this Decision, as listed in Part C of Annex XIX to this Decision.
2. The prohibition in paragraph 1 shall apply to a legal person, entity or body acting on behalf or at the direction of an entity referred to in points (a), (b) and (c) of paragraph 1.
3. The prohibition in paragraph 1 shall not apply to transactions that are:
(a)
necessary for the export, sale, supply, transfer or transport of pharmaceutical, medical or agricultural and food products, including wheat and fertilisers, whose export, sale, supply, transfer or transport to Russia is allowed under this Decision;
(b)
strictly necessary to ensure access to judicial, administrative or arbitral proceedings in a Member State, as well as for the recognition or enforcement of a judgment or an arbitration award rendered in a Member State, provided that such transactions are consistent with the objectives of this Decision and Decision 2014/145/CFSP, and of Regulations (EU) No 833/2014 and (EU) No 269/2014; or
(c)
necessary for humanitarian purposes, such as delivering or facilitating the delivery of assistance, including medical supplies, food, or the transfer of humanitarian workers and related assistance or for evacuations.’
;
(4)
in Article 1af(3), the following point is added:
‘(g)
to transactions for the purchase, import or transfer of coal falling under CN code 2701 where it originates in a third country and is only being loaded in, departing from or transiting through Russia, provided that both the origin and the owner of those goods are non-Russian.’
;
(5)
in Article 1af(4), the following point is added:
‘(g)
the establishment, operation, maintenance, fuel supply and retreatment and safety of civil nuclear capabilities, and the continuation of design, construction and commissioning required for the completion of civil nuclear facilities.’
;
(6)
the following articles are inserted:
‘Article 1ag
1. It shall be prohibited to engage, directly or indirectly, in any transaction in connection with the natural gas pipelines Nord Stream and Nord Stream 2, with regard to the completion, operation, maintenance, or use of the pipelines. In addition, it shall be prohibited to engage, directly or indirectly, in any transaction in connection with the financing concerning the completion, operation or use of the pipelines.
2. The prohibitions in paragraph 1 shall not apply to transactions that are strictly necessary for the urgent prevention or mitigation of an event likely to have a serious and significant impact on human health and safety, maritime shipping or the environment or as a response to natural disasters.
3. By way of derogation from paragraph 1, the competent authorities may authorise transactions that are strictly necessary:
(a)
for the wind-down or restructuring of a legal person, entity or body in connection with the natural gas pipelines Nord Stream and Nord Stream 2 where this is necessary to ensure that the natural gas pipelines Nord Stream and Nord Stream 2 will not be used;
(b)
to claim compensation, recoveries or any other means, from any natural or legal person, entity or body in connection with the natural gas pipelines Nord Stream and Nord Stream 2;
(c)
to effect and receive payments or recoveries that are due or become due under or in connection with court orders, financings, insurance, warrants or any other contracts or agreements in connection with the natural gas pipelines Nord Stream and Nord Stream 2 that were entered into before 20 July 2025;
(d)
for a settlement, or judicial or arbitration proceedings in connection with the natural gas pipelines Nord Stream and Nord Stream 2;
(e)
for regular maintenance services which are strictly necessary to prevent environmental and safety risks or a negative impact on the fisheries sector.
Before issuing such an authorisation, the competent authorities shall provide the Commission with a draft thereof. Within 30 days of receipt of that draft, the Commission may issue an opinion to the competent authorities stating that the envisaged transaction would be prejudicial to the Union’s interests. The Commission shall inform the Council of such an opinion.
4. Operators shall inform the competent authority of the Member State where they are incorporated or under whose law they are constituted of any transaction concluded pursuant to paragraph 2 within two weeks of its conclusion. The Member State concerned shall inform the other Member States and the Commission of any information received pursuant to this paragraph within two weeks of its receipt.
5. The Member State concerned shall inform the other Member States and the Commission of any authorisation granted pursuant to paragraph 3 within two weeks of the authorisation.
Article 1ah
1. It shall be prohibited to directly or indirectly engage in any transaction with:
(a)
the Russian Direct Investment Fund;
(b)
a legal person, entity, or body owned or controlled by the Russian Direct Investment Fund;
(c)
a legal person, entity or body established outside of the Union in which an entity referred to in point (a) or (b) has made, directly or indirectly, a significant investment, as listed in Annex XXII to this Decision;
(d)
a legal person, entity or body established outside of the Union providing investment services or other financial services to an entity referred to in point (a), (b) or (c), as listed in Annex XXIII to this Decision;
(e)
a legal person, entity or body acting on behalf or at the direction of an entity referred to in point (a), (b), (c) or (d).
2. By way of derogation from paragraph 1, the competent authorities may authorise transactions that are strictly necessary for the purchase, import or transport of pharmaceutical and medical products, the import, purchase and transport of which is allowed under this Decision.
3. By way of derogation from paragraph 1, the competent authorities may authorise until 31 December 2026, under such conditions as they deem appropriate, transactions which are strictly necessary for the divestment and withdrawal from Russia or the wind-down of business activities in Russia.
4. The Member State concerned shall inform the other Member States and the Commission of any authorisation granted pursuant to paragraph 2 or 3 within two weeks of the authorisation.’
;
(7)
Article 1e is amended as follows:
(a)
paragraph 1 is replaced by the following:
‘1. It shall be prohibited to engage, directly or indirectly, in any transaction with legal persons, entities or bodies listed in Annex VIII or with any legal person, entity or body established in Russia whose proprietary rights are directly or indirectly owned for more than 50 % by an entity listed in Annex VIII.’
;
(b)
the following paragraphs are inserted:
‘1a. The prohibition in paragraph 1 shall not apply to transactions:
(a)
that are necessary for the functioning of diplomatic and consular representations of the Union and of the Member States or of partner countries in Russia, including delegations, embassies and missions, or international organisations in Russia enjoying immunities in accordance with international law;
(b)
made by nationals of a Member State who are residents of Russia and were so before 24 February 2022.
1b. By way of derogation from paragraph 1, the competent authorities may authorise, under such conditions as they deem appropriate, transactions which are strictly necessary for divestment from Russia or the wind-down of business activities in Russia.
1c. By way of derogation from paragraph 1, the competent authorities of a Member State may authorise the execution of transactions with Bank Zenit, as listed in Annex XVIII, under such conditions as they deem appropriate and after having determined that the execution of such transactions is necessary for:
(a)
the payment of goods falling under CN 3402 90 ;
(b)
the execution of contracts concluded before 1 January 2025 until 1 January 2028 or until their expiry date, whichever is earlier.’
;
(8)
Article 1k is amended as follows:
(a)
paragraph 2b is replaced by the following:
‘2b. It shall be prohibited to sell, supply, transfer, export, or provide, directly or indirectly, software for the management of enterprises, software for industrial design and manufacture and software with certain uses in the banking and financial sector as listed in Annex XXXIX to Regulation (EU) No 833/2014 to:
(a)
the Government of Russia; or
(b)
legal persons, entities or bodies established in Russia.’
;
(b)
the following paragraph is inserted:
‘10a. The prohibition in paragraph 2b shall not apply to the provision of software with certain uses in the banking and financial sector as listed in Annex XXXIX to Regulation (EU) No 833/2014 that is necessary for the execution until 30 September 2025 of contracts concluded before 20 July 2025, or of ancillary contracts necessary for the execution of such contracts.’
;
(9)
Article 3a is amended as follows:
(a)
the following paragraph is inserted:
‘1aa. Without prejudice to the prohibition on indirect exports in paragraph 1 of this Article and Article 4 of Regulation (EU) 2021/821, an authorisation shall be required for the export of goods and technology which might contribute to Russia’s military and technological enhancement, or the development of the defence and security sector, as listed in Annex VII to Regulation (EU) No 833/2014, to any third country other than Russia, if the exporter has been informed by the competent authority of the Member State where the exporter is resident or established that the items in question are or may be intended, in their entirety or in part, for any natural or legal person, entity or body in Russia, or for use in Russia.’
;
(b)
the following paragraph is inserted:
‘6a. Where an authorisation is required in accordance with paragraph 1aa, the competent authorities shall proceed in accordance with the rules and procedures laid down in Article 4 of Regulation (EU) 2021/821, which shall apply mutatis mutandis .’
;
(10)
Article 4m is amended as follows:
(a)
the following paragraphs are inserted:
‘3ah. With regard to goods falling under certain CN codes, the prohibitions in paragraphs 1 and 2 shall not apply to the execution until 21 October 2025 of contracts concluded before 20 July 2025, or of ancillary contracts necessary for the execution of such contracts.
3ai. With regard to the goods falling under certain CN codes, the prohibitions in paragraphs 1 and 2 shall not apply to the execution until 21 January 2026 of contracts concluded before 20 July 2025, or of ancillary contracts necessary for the execution of such contracts.’
;
(b)
in paragraph 4a, the following points are added:
‘(e)
goods falling under CN code 7615 10 , CN code 8414 60 and CN code 8422 30 ;
(f)
goods falling under CN code 3916 20 when strictly necessary for the sale of PVC flooring.’
;
(c)
the following paragraphs are inserted:
‘5h. The competent authorities may authorise, under such conditions as they deem appropriate, the sale, supply, transfer or export of goods falling under CN code 8422 30 , or the provision of related technical or financial assistance, after having determined that such goods or the provision of related technical or financial assistance are necessary for the packaging of food , beverages and pharmaceuticals.
5i. The competent authorities may authorise, under such conditions as they deem appropriate, the sale, supply, transfer or export of goods falling under CN code 3402 90 , or the provision of related technical or financial assistance, after having determined that such goods or the provision of related technical or financial assistance are necessary for the execution of contracts concluded before 1 January 2025 until 1 January 2028 or until their expiry date, whichever is earlier.’
;
(11)
in Article 4o, the following paragraph is inserted:
‘3b. The exemption in paragraph 3, point (d), shall stop applying to Czechia as from 1 July 2025.’
;
(12)
the following article is inserted:
‘Article 4oa
1. It shall be prohibited, as of 21 January 2026, to purchase, import or transfer, directly or indirectly into the Union, petroleum products falling under CN code 2710 obtained in a third country from crude oil falling under CN code 2709 00 originating in Russia.
For the purposes of the application of this paragraph, at the moment of importation, importers shall provide evidence of the country of origin of the crude oil used for the refining of the product in a third country unless the product is imported from a partner country listed in Annex XXIV.
Petroleum products imported from third countries which were net exporters of crude oil in the previous calendar year shall be considered to have been obtained from domestic crude oil and not from crude oil originating in Russia, unless a competent authority has reasonable grounds to believe that they have been obtained from Russian crude oil.
2. It shall be prohibited to provide, directly or indirectly, technical assistance, brokering services, financing or financial assistance, as well as insurance and re-insurance, related to the prohibition in paragraph 1.’
;
(13)
Article 4p is amended as follows:
(a)
paragraph 5 is replaced by the following:
‘5. The prohibitions in paragraphs 1 and 4 of this Article shall not apply, for a period of 90 days, as of the date of entry into force of a Commission Implementing Regulation amending Annex XXVIII to Regulation (EU) No 833/2014, to the transport of products falling under CN code 2709 00 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 that Commission Implementing Regulation amending Annex XXVIII to Regulation (EU) No 833/2014; and
(b)
the purchase price per barrel does not exceed the price, as laid down in Annex XXVIII to Regulation (EU) No 833/2014 on the date of conclusion of that contract.’
;
(b)
the following paragraph is inserted:
‘5a. The prohibitions in paragraphs 1 and 4 of this Article shall not apply, for a period of 90 days, as of the date of entry into force of each Council Decision amending Annex XI to this Decision, to the transport of products falling under CN code 2710 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 each Council Decision amending Annex XI to this Decision; and
(b)
the purchase price per barrel does not exceed the price, as laid down in Annex XI, on the date of conclusion of that contract.’
;
(c)
in paragraph 6, point (a) is replaced by the following:
‘(a)
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, provided that the purchase price per barrel of such a product does not exceed the price laid down in Annex XXVIII to Regulation (EU) No 833/2014;’
;
(d)
in paragraph 6, point (aa) is inserted:
‘(aa)
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;’
;
(e)
paragraph 6a is replaced by the following:
‘6a. In application of paragraphs 4 and 6, point (a), for Russian crude oil or petroleum products listed in Annex XIII, loaded as of 20 February 2024, service providers with no access to the purchase price per barrel of such products as laid down in Annex XXVIII to Regulation (EU) No 833/2014 as concerns crude oil falling under CN code 2709 00 , and in Annex XI to this Decision as concerns petroleum products falling under CN code 2710 , shall collect itemised price information for ancillary costs as provided by operators further up the supply chain of Russian crude oil or petroleum product trade. Such itemised price information shall be provided to counterparties and competent authorities, upon their request, for the purpose of verifying compliance with this Article.’
;
(f)
paragraph 12 is replaced by the following:
‘12. The oil price cap shall be calculated and regularly assessed in accordance with a mechanism laid down in Regulation 2025/1495 amending Regulation (EU) No 833/2014, under which the Commission is obliged to:
(i)
monitor Russian crude oil prices on the basis of price assessments provided by authorised reporting agencies;
(ii)
based on that data, calculate the average market price of Russian crude oil over a period of 22 weeks starting as of 15 July 2025 and for an equivalent period of 22 weeks every six months thereafter;
(iii)
publish a notice of this average market price; and
(iv)
amend Annex XXVIII to Regulation (EU) No 833/2014 on 15 January 2026 and every six months thereafter. In order to remain effective in achieving its objectives, including its ability to reduce Russia’s oil revenues, the price cap shall be set equal to that average market price for Russian crude oil minus 15 %. Should the newly calculated price vary by 5 % or less from the applicable price cap, the price cap shall not be amended.
The amended price cap shall apply as of the first day of the month following the month of entry into force of each such amendment to Annex XXVIII to Regulation (EU) No 833/2014.
The functioning of the price cap mechanism, including Annex XXVIII to Regulation (EU) No 833/2014 as well as the prohibitions in paragraphs 1 and 4 of this Article shall be assessed by 15 April 2026 and every six months thereafter, on the basis of, inter alia, coordination with the Price Cap Coalition. The assessment shall be submitted to the Council, along with the proposals to amend as appropriate.
That assessment may be carried out at an earlier point in time where duly justified by developments in the oil market, geopolitical circumstances, or other relevant considerations.
That assessment 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.
On the basis of that report, the functioning of the price cap mechanism, including Annex XXVIII to Regulation (EU) No 833/2014 as well as the prohibitions in paragraphs 1 and 4 of this Article, shall be reviewed by the Council.’
;
(14)
in Article 4z, the following paragraph is added:
‘6. By way of derogation from the prohibitions in paragraphs 1 and 2, the competent authority of a Member State that is not directly connected to the interconnected natural gas system of any other Member State and which received the first commercial supply of its first long-term natural gas supply contract after 20 July 2025 may authorise the purchase, import or transfer of liquified natural gas falling under CN code 2711 11 00 , originating in Russia or exported from Russia, after having determined that the purchase, import or transfer is used to ensure its energy supply.
The Member State concerned shall inform the other Member States and the Commission of any authorisation granted under this paragraph within two weeks of the authorisation.’
;
(15)
in Article 7, the following paragraphs are inserted:
‘2a. No injunction, order, relief, judgment of a judicial court other than a court of a Member State or other court, arbitral or administrative decision issued in proceedings other than those in the Member States pursuant to or derived from investor-State dispute settlement proceedings against a Member State which could lead to the satisfaction of any claims in connection with measures imposed under this Decision and Decision 2014/145/CFSP, and Regulations (EU) No 833/2014 and (EU) No 269/2014 shall be recognised, given effect or enforced in a Member State if it is invoked by any persons, entities or bodies referred to in paragraph 1, point (a), (b) or (c), of this Article, or persons, entities or bodies that own or control those persons, entities or bodies.
2b. No request for assistance during an investigation or other proceedings, and no punishment or other penalty based on an injunction, order, relief, judgment of a court other than a court of a Member State or other court, arbitral or administrative decision issued in proceedings other than those in the Member States pursuant to or derived from investor-State dispute settlement proceedings against a Member State in connection with measures imposed under this Decision and Decision 2014/145/CFSP, and Regulations (EU) No 833/2014 and (EU) No 269/2014 shall be recognised, given effect or enforced in a Member State if it is invoked by any persons, entities or bodies referred to in paragraph 1, point (a), (b) or (c), of this Article, or persons, entities or bodies that own or control those persons, entities or bodies.’
;
(16)
the following articles are inserted:
‘Article 7b
Any Member State shall, where applicable, take any appropriate measures to recover or be entitled to recover, in judicial proceedings before the competent courts of a Member State, any direct or indirect damages, including legal costs, incurred by that Member State as a consequence of investor-State dispute settlement proceedings brought against a Member State in connection with measures imposed under this Decision and Decision 2014/145/CFSP, and Regulations (EU) No 833/2014 and (EU) No 269/2014. The Member State shall, where applicable, be entitled to recover such damages from any persons, entities or bodies referred to in Article 7(1), point (a), (b) or (c), of this Decision, which initiated, intervened or participated in the investor-State dispute settlement or which seek to enforce any award, decision or judgment related to the investor-State dispute settlement and persons, entities or bodies that own or control any of those persons, entities or bodies.
Where applicable, the Union shall be entitled to recover any damages incurred by it under the same conditions.
Article 7c
Member States shall raise any available objection to the recognition and enforcement of arbitral awards that were rendered against them in investor-State dispute settlement proceedings in connection with measures imposed under this Decision or Decision 2014/145/CFSP, or Regulations (EU) No 833/2014 and (EU) No 269/2014.’
;
(17)
Article 8c is replaced by the following:
‘Article 8c
The Council, acting by unanimity on the basis of Articles 29 and 30 of the Treaty on European Union, shall amend Annexes I, II, III, IV, V, VI, VIII, IX, X, XI, XIV, XVI, XVII, XVIII, XIX, XX, XXI, XXII, XXIII and XXIV.’
;
(18)
the Annexes to Decision 2014/512/CFSP are amended as set out in the Annex to this Decision.