Emborgo

on tode in orms
(exports
and imports)
ln addition,
all Russian
targeted investors
could be prohibited
from using
EU stock exchanges
or any other trading venues to list and quote
newly
issued securities.
Russia is both an exporter and importer
of arms to and from EU Member
States. Russian
exports (excluding
dual use technologies)
are worth EUR
3.2 biilion whire EU exports
to Russia are around EUR 300 miilion. An
embargo
on trade in arms courd be imposed
on the whore defence
sector,
apprying to alr the products
risted in the EU common
miritary rist.
Export licenses
are a competence
of Member
States, although
a Council
common position
on arms export
contrors intrdduced
harmonised
criteria.
Some Member
States have already
suspended granting
licenses
to Russia. The restrictions
would require a Council decision
based on Art.
29, with some provisions
also introduced
in the Council Regulation,
in
particular
concerning
related technical
and financial
assistance.
The question
on how to deal with prior
contracts,
needs to be addressed
politicarry
by Member
states. There are a number
of options to dear with
the issue,
such as a clause of safeguard
for the execution
of contracts
signed
before a certain date, which could be equally applied
to both
exports
and imports
and to spare parts
and servicing
for existing
equipment.
The embargo
would be reversible.
5.i
t
t

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