FIN has announced the full list of sanctions!

In outline

Many are not aware of what FIN (FÉDÉRATION DES INDUSTRIES NAUTIQUES) is. FIN is committed to representing and defending the interests of the professional watersports and yachting sector in France and abroad. The organization brings together 600 members - representatives of about 11 professions related to maritime navigation and generating a total of about 80% of income for the entire industry of the sector.

FIN an authoritative organization that "enters" government offices. Thanks to this, the Federation can provide real support to many companies. Exactly also, the organization can become a stumbling block. The company has become such a stone for the Russian Federation. What is included in these sanctions?

Sanctions

The Federation warns that these sanctions only work for the Russian Federation and Belarus. For individual cases, legal advice is required. So, finished with the banality. Now let's move on to the list.

Luxuries

Part 1 - “Prohibition on the export of “luxury goods”” (dated March 15): 

• The fourth round of sanctions includes a ban on the sale, supply, transfer or export, directly or indirectly, of luxury goods to any person, entity, organization or body in Russia or for use in Russia.
• The prohibition applies to the listed luxury items to the extent that their value exceeds 300 euros per unit, unless otherwise specified in the Annex.
• The ban does not apply to goods required for the official purposes of diplomatic or consular representations of Member States or partner countries in Russia or international organizations enjoying immunity under international law, or to the personal belongings of their employees.

Part 2 - Sanctioned Luxury Items List:

• Yachts and other vessels for pleasure or sport; rowboats and canoes (CN code 8903 00 00)
• Cruise ships, excursion ships and similar ships primarily intended for the transport of persons; ferries of all kinds (code CN 8901 10 00)

• Other vessels for the carriage of goods and other vessels for the transport of persons and goods (CN code 8901 90 00)

• As well as a number of other CN codes relating to engines and engine parts; the exact list of CN codes included should be clarified.

Now the Russian Federation and Belarus will be left without the above items. However, as we recently wrote, “on the brakes” for another 2-3 years, this deficit will not be felt too sharply. Let's talk about more serious events.

Export of maritime navigation and radio communication goods

This could be a serious blow to the industry in the Russian Federation. Take a look at the list below and see for yourself. By the way, the second point can instill cautious optimism in the hearts of lovers of foreign electronics:

• A ban has been introduced on the sale, supply, transfer or export, directly or indirectly, of maritime navigation and radio communication products, as well as any technical support, support financing, whether originating in the EU or not, to any natural or legal person, organization or body in Russia, for use in Russia or for placement on board a vessel under the Russian flag.

• The prohibition does not apply for non-military use and for a non-military end user intended for humanitarian purposes, public health emergencies, urgent prevention or mitigation of an event that could have a serious and significant impact on human health and safety or the environment, or as a response measures for natural disasters 

• The competent authorities may authorize the sale, supply, transfer or export of goods and technology, or the provision of related technical or financial assistance for non-military use and to the non-military end user, after determining that such goods or technology or related technical or financial assistance is for maritime safety. .

Something like this. Alas, this is only the beginning. If there are still doubts that such actions will end with these sanctions, then these doubts are unfounded. Again, do not forget that most of the yachting in the Russian Federation will last a couple more years on the remnants of foreign products. However, after some time, this will come to naught. We will wait and further assess the situation.

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18.03.2022