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EU increases sanctions on Russia

In July 2014, EU legislation imposed a requirement that the direct or indirect sale, supply, transfer or export of certain technologies suited to deep water oil exploration and production, arctic oil exploration and production, or shale oil productions in Russia be subject to prior authorisation by the authorities of the exporting Member State.  This requirement remains in force and has been supplemented in the new sanctions package by a prohibition on the direct or indirect provision of associated services necessary for these oil industry activities, including drilling, well testing, logging and completion services and the supply of specialist floating vessels, subject to certain exceptions. [from CMS-CMCK] 

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