AvtoVAZ and Polyus were included in the 19th package of EU sanctions against Russia.
The 19th sanctions package against RUSSIA includes the parent company of the FESCO Group, AvtoVAZ, Polyus, and Evraz. The Zvezda shipbuilding complex was also subject to restrictive measures.
As part of the 19th sanctions package against Russia, the European Union has imposed restrictive measures against Russian automakers AvtoVAZ and Sollers. The corresponding document was published in the European Union Journal.
Also included were Evraz plc, which produces steel, coal and vanadium, the transport and logistics company PJSC Far Eastern Shipping Company (FESCO), which is the parent company of the FESCO group, as well as the car manufacturer Sollers and the shipbuilding complex Zvezda.
The list also includes gold mining company PJSC Polyus, the Kyrgyzstan-registered crypto exchange Grinex, and LUKOIL's Dubai-based trading division Litasco Middle East DMCC.
00:00 Advertisement 00:00 00:00 / 02:03 You can skip the advertisement in More detailsAvtoVAZ's press service told RBC that the company has no business relationships with EU counterparties , and therefore the new sanctions package will not affect the company's operations.
Sollers' inclusion in the sanctions package will not impact the company's operations, the organization's press service told RBC. "The group has no relationships with European counterparties; all current production of UAZ and Sollers vehicles is based on highly localized and sanctions-resistant solutions," the press service clarified.
The European Union adopted a new sanctions package against Russia on October 23. it also includes a ban on LNG imports from 2027, travel restrictions for Russian diplomats, and sanctions against an additional 117 vessels in the "shadow fleet."
The EU also banned transactions with five Russian banks: Rosneft, Transneft, Gazprom Neft, Rostec, Almaz-Antey, Sovcomflot, Uralvagonzavod, KAMAZ, PO Sevmash, the United Aircraft Corporation (UAC), the United Shipbuilding Corporation (USC), and Oboronprom. A number of Tajik banks were also subject to restrictions.
The 19th EU sanctions package prohibits European companies and entrepreneurs from participating in the activities of organizations registered in Russian special economic zones and preferential zones, including the Free Port of Vladivostok, the Skolkovo Innovation Center, and Technopolis.
Moscow considers Western sanctions illegal. Russian presidential press secretary Dmitry Peskov said the country's economy "operates under a huge number of restrictions," and therefore has developed a "certain immunity" to this effect.
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